White House Review to Reduce, Streamline Small Business Regulation

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“President Obama has ordered government agencies to review federal regulations and eliminate the ones that don’t make sense… He called the system of federal regulations “a patchwork of overlapping rules” – and said it’s time to clean up the patchwork.

The president’s regulatory action looks forward, too. From now on, the public will have more opportunity to comment on proposed rules through the website regulations.gov. And there are new provisions for small businesses. Obama told agencies to be lenient with small-business regulations, giving extensions on deadlines or exemptions from rules when appropriate.

“We think it’s an important principle,” says Todd McCracken, president and CEO of the National Small Business Association, “that the federal government recognize that small companies operate differently, and a regulatory requirement that might make sense for an Exxon needs to be thought about in a different kind of way for an Exxon service station.”

For a report by Marketplace on National Public Radio, click here. Click here for coverage by the Wall Street Journal.

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