H.R. 7198, titled the “Prove It Act of 2024,” aims to increase transparency in federal regulatory decisions affecting small businesses. The bill requires agencies to thoroughly analyze and disclose the potential indirect costs of proposed rules on small entities. Moreover, it allows small...
Simple Explanation
The Prove It Act of 2024 wants the government to be more open about new rules that could make things harder for small businesses. It makes sure small businesses can check and talk about these rules before they are final, so everyone knows what’s happening.