NE Wyoming News

Congresswoman Harriet Hageman has introduced the Regulatory Cooling Off Act, aiming to provide small businesses with relief from federal regulations. The legislation seeks to extend timelines for businesses to comply with or challenge regulations, requiring government agencies to adopt a more deliberate approach.

Representative Hageman expressed concerns about the current regulatory environment, stating, “The Biden-Harris Administration has weaponized outdated regulatory laws to fuel unprecedented growth in the administrative state. This has allowed government bureaucrats to impose regulations on small business owners at an unsustainable pace, burdening small businesses with financial uncertainty and excessive costs."

Hageman emphasized that the Regulatory Cooling Off Act aims to "slow the regulatory process, enhance regulatory transparency, and establish a fairer review system," ensuring that small businesses have adequate time and resources to address new rules.

Under the Biden-Harris Administration, federal regulatory costs have increased significantly. Americans are reportedly paying over $2.1 trillion annually for compliance, equating to a hidden tax of $15,788 per household. This financial strain affects both families and small businesses.

The Administrative Procedure Act of 1946 is highlighted as a contributing factor in enabling rapid growth of a politically driven administrative state. The Biden-Harris Administration's tenure has seen $1.7 trillion in additional regulatory costs imposed—over half of all prior administrations combined—posing challenges for small businesses navigating an increasingly regulated economy.

The introduction of the Regulatory Cooling Off Act is seen as an effort to restore balance between business interests and regulatory requirements, providing necessary relief for small enterprises facing growing challenges.