October 12, 2022
(Washington, DC) – US Senator Jeanne Shaheen (D-NH), a senior member of the Senate Committee on Small Business and Entrepreneurshipand US Senator John Cornyn (R-TX), released the following statements after President Joe Biden signed their bipartisan legislation – the One Stop Shop for Small Business Compliance Act – into law.
“Small businesses in New Hampshire and across the country have been through the wringer over the last two years as they navigated the serious challenges spurred by the pandemic. As many fight to get back on their feet, it’s important that there are federal resources available to guide small business owners and make the bureaucratic process less time consuming and confusing. Now that our bipartisan bill has been signed into law, the Small Business Administration will be tasked with taking action to do just that,” said Shaheen. “By streamlining information and guidance on how to navigate federal compliance regulations, we’re lessening the burden on owners so they can focus more energy on their businesses and workforce. This is a commonsense way to make things a little easier for small business owners. I’ll keep looking for ways to make progress on these kinds of issues that support the small business community.”
“Small business owners have enough administrative tasks on their plate without the added burden of tracking federal regulations that are continually updated,” said Cornyn. “By creating an easily-accessible and comprehensive website, this bill will ease the regulatory burden on small business owners and reduce the amount of time they spend navigating red tape, and I am grateful to my colleagues in Congress for helping get this legislation across the finish line.”
Tea One Stop Shop for Small Business Compliance Act will require the Small Business Administration (SBA) to create a centralized website that houses compliance guides pertaining to federal regulations impacting small businesses. This legislation, as well as three other Shaheen-led bipartisan bills, passed the Senate last month.
More details on the legislation are available here.
As a senior member of the Senate Committee on Small Business and Entrepreneurship and as a former small business owner, Senator Shaheen is a fierce advocate for New Hampshire’s small business community. During the COVID-19 pandemic, Shaheen went to bat for small business owners who were among the most severely impacted by the public health crisis. She worked to provide small businesses with the resources they needed to weather and recover from the economic impact of the COVID-19, leading negotiations on provisions in the Coronavirus Aid, Relief and Economic Security (CARES) Act, which established the Paycheck Protection Program (PPP) and expanded the Economic Injury Disaster Loan Program, both of which were lifelines for businesses throughout New Hampshire and the country.
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