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Tuesday, September 27, 2022

NHTSA Looks at Economic Impact of Regulations on Small Businesses

 

The National Highway Traffic Safety Administration is examining the economic impact of its regulations on small businesses through a request for comments. The comment period focuses on rules that relate to passenger cars, multipurpose passenger vehicles, trucks, buses, trailers, motorcycles, and motor vehicle equipment.

NHTSA is required by law to try to identify rules that may have a significant economic impact on a substantial number of small entities. In addition, the agency is asking stakeholders to comment on ways to make its regulations easier to read and understand.

Section 610 of the Regulatory Flexibility Act of 1980 requires agencies to conduct periodic reviews of regulations that have a significant economic impact on a substantial number of small business entities. The purpose of the reviews is to determine whether such rules should be continued without change, or should be amended or rescinded to minimize any significant economic impact.