Improving Access to Small Business Information Act

Floor Speech

Mr. Speaker, the Paperwork Reduction Act mandates all Federal agencies receive approval before putting forth a paper form or survey that will impose an information collection burden on the general public.

Although well-intentioned, the Paperwork Reduction Act often prevents Federal agencies like the SEC from obtaining data from the public. This is the very data that assists the agencies in carrying out their missions.

This bill streamlines the ability of the SEC's Office of the Advocate for Small Business Capital Formation to carry out its mission by exempting it from the requirements of the act in the same way the SEC's Office of the Investor Advocate is exempted. In effect, it enables the small business advocate to properly do its job by providing it with the information and data it needs to draft regulations that actually help small businesses raise capital without imposing costly demands.

Mr. Speaker, I thank the gentlewoman from California (Mrs. Kim) for her bipartisan leadership, her friendship, and all she does. I urge my colleagues to vote ``yes'' on this important bill.

Mr. Speaker, I again urge my colleagues to support this bipartisan legislation, which will reduce the paperwork burden on SEC staff and, therefore, their ability to advocate for the needs of small businesses within the agency's rulemaking and regulatory process.

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