Michigan Representative Kerry Bentivollo (MI-11) has introduced Ron Paul's Protect Small Business Jobs Act (HR 746). This common-sense legislation, first introduced by then-Representative and current Campaign for Liberty Chairman Ron Paul in 2011, gives small businesses a six-month grace period to correct any violations of federal regulations before the federal government can levy any fines for the violation. The bill thus protects small business from being hit with massive fines for actions they may not have even known were forbidden by federal regulations. After all, small businesses, unlike large corporations, cannot afford to hire a platoon of lawyers to keep track of all the new regulations coming out of DC.
This legislation is particularly important considering the role excessive federal regulations play in hamstringing economic growth and job creation.
The act currently has 12 cosponsors, including Paul Broun, the House sponsor of Ron Paul's Audit the Fed bill (HR 24). Hopefully, more members of Congress will cosponsor, and Congressman Bentivolio will be successful in getting Ron Paul's Protect Small Business Jobs Act into law this year.