Mark Pryor: “I wish to thank my colleague from the State of Maine. She has been a great leader in small business matters. She and I…”

“I wish to thank my colleague from the State of Maine. She has been a great leader in small business matters. She and I serve on the Small Business Committee together, and we have been working for, I guess, 3 years now on the Regulatory Flexibility Act and other related efforts to try to make sure the proper environment exists in America for small businesses to thrive and for entrepreneurs to be successful. This amendment would make certain that key provisions of the Regulatory Flexibility Act, which require that Federal agencies fully consider during the rulemaking process the economic impact on small firms, would apply to the CFPB created in the bill offered by Senator Dodd. This amendment would ensure that the newly created CFPB, when it is promulgating its rules and regulations, fully consider the economic impact those rules and regs would impose on our Nation's almost 30 million small firms, which have created 64 percent of all the new jobs in this country over the last 15 years and, undoubtedly, will drive this Nation's economic recovery. Onerous regulations can crush entrepreneurial spirit for America's small businesses.”