Cole Supports Legislation to Help Main Street

Washington, D.C. – Congressman Tom Cole (OK-04) released the following statement of support after the U.S House of Representatives passed H.R. 527, the Small Business Regulatory Flexibility Improvements Act. Along with instructing federal agencies to look at the economic impact of regulations on small businesses, it requires that agencies conduct reviews of current rules. The legislation also seeks to involve those employed by small businesses in consideration of new regulations through Small Business Advocacy Review panels.

"Our country's ability to prosper depends heavily on Americans who work for and own small businesses," said Cole. "Unfortunately, those working on Main Street are often met with excessive regulatory and tax barriers that choke innovation and discourage job creation. The same regulations often discourage entrepreneurs from entering the marketplace at all, preventing future opportunities for hardworking Americans and stalling economic recovery.

"The Small Business Regulatory Flexibility Improvements Act remembers the critical role small businesses play in creating job opportunities that support millions of families across the country. I am proud to support this legislation that raises the voices of those employed by small business by allowing them to be heard in the regulatory review and consideration process," concluded Cole.

According to the United States Small Business Administration, an estimated seven out of 10 new jobs in the economy are created by small businesses. In 2010, the U.S. Department of Commerce recorded 332,998 small businesses in Oklahoma that employed 673,373 people.

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