OOIDA: Small biz regulatory bill good for owner-operators, small fleets

Truck in rain on highway

A bill making its way through Congress currently — most recently clearing the U.S. House — is being lauded by the Owner-Operator Independent Drivers Association as a win for owner-operators and other small trucking companies.

The Small Business Regulatory Flexibility Improvements Act (H.R. 527) passed 260-163 in the House last week. OOIDA says the bill, if enacted, would strengthen the 1980 Regulatory Flexibility Act, which requires regulatory agencies like the Federal Motor Carrier Safety Administration to ensure that small businesses are not unduly impacted by regulatory burdens.

The bill would expand the definition of a regulatory “rule” to include things like guidance documents and agency policy statements, OOIDA says.

It also would expand the authority of the Small Business Administration’s Office of Advocacy to intervene in rulemakings.

“For far too long, loopholes have allowed regulations to take a shortcut around a true accounting of regulatory costs and benefits,” says OOIDA Executive VP Todd Spencer.  “Trucking, which is dominated by small businesses, is probably the greatest example of why this legislation is needed.”

The bill still needs to clear the Senate and be signed by the President to become law.