Small Business Regulatory Flexibility Legislation Statement on Senate Approval of the Legislation.

Earlier today the Senate passed and sent to the House of Representatives the small business regulatory flexibility act, S. 299. The bill was a major recommendation of the White House Conference on Small Business and has been a high priority of this administration.

I would like to express my personal thanks to Senator John Culver and Senator Gaylord Nelson as well as to Senator Paul Laxalt for their hard work in securing Senate passage of this bill. Senator Culver and Senator Nelson have worked closely with the administration, with House leaders, including Congressman Andy Ireland and Congressman Neal Smith, and with the leaders of various small business groups in developing this legislation.

I am confident that with the support of Congressmen Ireland and Smith and others who are concerned about small business, the House will pass this legislation soon after the Democratic Convention recess and that the bill will promptly be signed into law.