Advocacy Efforts under the Regulatory Flexibility Act Saved Small Businesses $7 Billion in FY 2009
WASHINGTON, D.C. – Small businesses realized $7 billion in first-year cost savings and $745 million in annually recurring savings as a result of fiscal year (FY) 2009 efforts to help agencies comply with the Regulatory Flexibility Act (RFA). The law requires agencies to review the economic impacts of proposed regulations on small entities and consider less burdensome alternatives. The figures are reported in the FY 2009 edition of the Office of Advocacy’s annual Report on the Regulatory Flexibility Act. (http://www.sba.gov/advo/laws/flex/09regflx.html)
“Small firms are better equipped to do what they do best—grow the economy—when they are given regulations that are less burdensome and duplicative,” said Acting Chief Counsel for Advocacy Susan M. Walthall. “Federal agencies are learning that the RFA is an extremely valuable tool to help them consider the impact of their rules on small business while still meeting regulatory goals.”
The Regulatory Flexibility Act was enacted in 1980 in an effort to give small businesses, small nonprofits, and small government entities a voice in the rulemaking process. Together with Executive Order 13272, the RFA as amended by the Small Business Regulatory Enforcement Fairness Act encourages agencies to enact regulations that are more rational without negating the intent of the rules. The law requires the Office of Advocacy to report annually on agency compliance with the RFA.
In FY 2009, Advocacy reviewed hundreds of regulations to assess RFA compliance, convened numerous roundtables to solicit the priorities and comments of small entity stakeholders, and submitted more than 30 public comment letters to federal agencies on regulatory proposals.
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 businesses 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.
###
The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The 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, visit www.sba.gov/advo, or call (202) 205-6533.
Follow SBA news and announcements via Twitter at: http://twitter.com/smallbusinessad/