Small Business Regulatory Reduction Act

Summary#

This bill directs the Administrator of the Small Business Administration (SBA) to make sure the SBA's "small business regulatory budget" for each fiscal year beginning in 2026 is not greater than zero. The bill defines "small business regulatory budget" as the cost to a small business from a federal rulemaking, including costs from new rules and from changing or repealing rules. The bill also requires the Chief Counsel for the Office of Advocacy to send Congress a report, within 60 days after the end of fiscal year 2025 and every year after that, listing rules issued by federal agencies other than the SBA that have an impact on small businesses; the list must show which agency issued each rule. The bill allows agencies, after consulting the Office of Advocacy and allowing public comment, to publish agency-specific definitions of "small business." The bill states no additional funds are authorized to carry out it.

What it means for you#

• The SBA must ensure that, for its own rulemaking, the calculated cost to small businesses (the "small business regulatory budget") is not greater than zero for each fiscal year starting in 2026.
• Small businesses and the public will get an annual report identifying rules from other federal agencies that affect small businesses, with those rules grouped by the issuing agency.
• Agencies can set their own small business definitions after consulting the Office of Advocacy and seeking public comment.

Expenses#

• Section 3 of the bill states: "No additional funds are authorized to be appropriated to carry out this Act."
• No publicly available information on estimated costs or savings is included in the bill text.

Proponents' View#

No publicly available information.

Opponents' View#

No publicly available information.