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Press Office of Bill Schmidt (R-AZ)


Bill Schmidt

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SCHMIDT UNVEILS 'PACER' ACT TO SUPPORT SMALL BUSINESSES

The GOP has committed wholesale to a fight against Washington bureaucrats and overregulation, with Senator Fitzgerald's Regulatory Relief Act and Senator Barilla's Rein in Regulation Act leading the charge. Now Senator Bill Schmidt of Arizona has fired the latest salvo in the Republican battle to rebalance the statute books in favour of businesses and employers, by proposing the Pecuniary Assistance for Compliance with Evolving Regulation (PACER) Act in Congress.

The PACER Act would establish a $4 billion fund held by the Department of Commerce, which would have a statutory duty to deploy that fund in supporting small businesses to comply with new and evolving regulations established by federal agencies. In particular, the legislation would direct the Commerce Secretary to compensate small businesses whose revenues were negatively affected to a degree disproportionate to the purported benefits of a new piece of regulation, and would require the government to engage in public information campaigns and the provision of administrative support to assist employers of fewer than 100 people - which often have few administrative or legal resources of their own - to achieve full compliance with new regulations.

Senator Schmidt said: 'The GOP is at war with the Washington elites on the overregulation of our country's struggling economy. For eight years, federal agencies have piled on the pressure and sought to strangle innovation, suffocate growth and subdue our nation's job creators. The PACER Act is the latest in a long line of bills aimed at redressing the imbalance of power between the regulators and the regulated, requiring small businesses - which often struggle the most to comply with hamfisted DC diktats - to be proactively supported by the Department of Commerce.'

'I'm very proud of it, and I hope that it will achieve bipartisan support.'

Bill Schmidt
Senator from Arizona
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Former Governor of Arizona (1997-2003)

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