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Dear Chairman Danielson and Members of the Assembly Oversight, Reform & Federal Relations Committee:
I write today in strong support of Assembly Bill 3578, to expand the scope of the New Jersey Regulatory Flexibility Act, which deals with the economic impact of regulations on small business. Over decades of accumulation, state and federal regulations have grown substantially, which is especially difficult for small businesses, who often do not have the time, money or expertise required to comply.
New Jersey small businesses pay a high price under the current regulatory burden. They have paid higher costs and invested less. A recent survey conducted by the National Small Business Association (NSBA), found around 40 percent of business owners have halted making a new investment because of pending regulations. This means fewer job prospects for New Jerseyans. The survey also found over 50 percent of small business owners claim they have not hired a new employee, and nearly 30 percent have reduced the number of employees because of a regulation at some point in the past.
The reforms included in this legislation will improve the regulatory rulemaking process in the state of New Jersey. The legislation gives small businesses a seat at the table and provides an opportunity for regulatory agencies to hear the potential impact of regulations and explain the regulations before they advance. This is a vital step in the right direction that gives agencies and small businesses the chance to work together to better write and better understand new regulation. This need is highlighted even more by the fact that the same NSBA survey found that nearly half of all regulatory difficulties stem from the “complexity of rules” and “difficulty interpreting and understanding rules.”
Lastly, Assembly Bill 3578 will allow regulators to potentially address legal concerns in the first stages of the rulemaking process. This will greatly reduce both the financial cost of expensive legal challenges as well as the huge time cost—as 30 percent of small business owners currently dedicate 40+ hours each year solely to deal with just new and existing state and local regulations.
This legislation would help reignite the power of small, local businesses to be engines of our economy and for this reason, Americans for Prosperity-New Jersey is proud to support Assembly Bill 3578. We endorse this bill and we look forward to working with you to see that it is swiftly passed.
Erica L. Jedynak
New Jersey State Director
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