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Small Business Gains When The Regulatory Flexibility Act Is Followed: Oversight Of RFA Saves Small Business $10.7 Billion in FY 2008
WASHINGTON, D.C. – The Office of Advocacy of the U.S. Small Business Administration saved American small businesses $10.7 billion in foregone regulatory costs in fiscal year 2008, by helping federal agencies comply with the Regulatory Flexibility Act. The RFA requires agencies to analyze the economic impact of proposed regulations on small entities and consider less burdensome alternatives that still reach the agencies’ regulatory goals.
“Small businesses gain when their voice is heard during the regulatory process,” said Shawne McGibbon, Acting Chief Counsel for Advocacy. “When small business is involved in regulatory decision making, more effective and efficient regulations are the result. The Office of Advocacy is proud to bring small businesses’ concerns to the attention of regulators in Washington, and we are especially proud of the $10.7 billion in savings that resulted from our efforts.”
Report on the Regulatory Flexibility Act, FY 2008 outlines federal agency compliance with the RFA, describes agency adherence to Executive Order 13272 that strengthens the RFA, and documents the results of Advocacy’s Regulatory Review and Reform (r3) and Small Business Regulatory Flexibility Model Legislation initiatives.
Other highlights of Advocacy’s efforts include:
Submitting 33 public comment letters to federal agencies on regulatory proposals,
Convening 28 roundtables to solicit opinions and concerns of small business stakeholders,
Delivering the 2008 r3 Top 10 Rules for Review and Reform to agencies for their action, and
Working with stakeholders in five states to pass regulatory flexibility legislation.
The Office of Advocacy, the “small business watchdog” of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats, and it funds research into small business issues.
For more information and a complete copy of Report on the Regulatory Flexibility Act, FY 2008, visit the Office of Advocacy website at www.sba.gov/advo.
The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed Chief Counsel for Advocacy advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policymakers. For more information, call (202) 205-6533.