Premier League clubs have been accused of making “empty promises” over a new funding deal with the English Football League (EFL).
A meeting between clubs on Monday ended with no agreement on a new deal.
Dame Caroline Dinenage, chair of the culture, media and sport committee, accused the club of “parking the bus”.
Premier League clubs were recently informed that a funding agreement could not be reached with the EFL It means being imposed on them.
“The longer this stalemate lasts, the more Premier League clubs' commitments to reach agreements with other members of the pyramid will look like empty promises,” Dinenage said.
“Premier League participation numbers should rise further as the country’s richest teams continue to park buses to prevent financial settlements, and the government is making a big deal to bring in an independent regulator.” There is an urgent need to introduce the legislation being debated.
“Every day that passes without a deal threatens the financial sustainability of clubs in communities across the country.”
BBC Sport has contacted the Premier League for comment.
The EFL will hold a board meeting on Thursday, with a continued no-deal Brexit likely to be high on the agenda.
The Premier League was expected to submit concrete proposals to the EFL at a meeting on Monday.
The total amount is partly related to future TV revenues, but is expected to be around £900m over six years.
However, a statement from the Premier League said the clubs had agreed to implement a new financial system across the competition.
It said any progress on the contract with the EFL is conditional on the new system being approved by clubs.
“This is absolutely disgraceful,” former England international and Manchester United defender Gary Neville, who is also part-owner of Salford City, told Sky Sports on Monday.
“It’s about the health of the game and the sustainability of the league as a whole.”
british government approved new independent regulator for English football During February. One of his objectives is to filter funds from the Premier League into his pyramid of English football to distribute funds fairly.
“The Premier League at the moment is being negligent in its neglectful nature and just pushing its way through thinking, 'Maybe the regulators will solve the problem, maybe we'll solve the problem.' They're not doing anything,” Neville added.
“That's not good governance and just shows me that they're not managing the whole game the way they should.
“Every time I see them meeting in the Premier League and looking after themselves but not thinking about the rest of football, it makes me angry.”