Small business burdens may trigger permanent regulatory reform
😓 Small business burdens may trigger permanent regulatory reform.
When small businesses are significantly impacted by burdensome regulations, they may organize and advocate for change. If their advocacy efforts are successful in attracting public and political support, it can lead to regulatory reform. The reform may take the form of modifying existing regulations or creating new ones that are more manageable for small businesses. However, the process of permanent regulatory reform can be slow and difficult, as it often involves navigating complex bureaucratic processes and overcoming political and economic hurdles.
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House Republicans are pressing the IRS for answers regarding the delay in processing new claims for the pandemic-era small business tax credit known as the employee retention credit (ERC).