Federal Watchdog Office Saves Small Businesses $2.4 Billion In Regulatory Costs
Report Highlights Work of the SBA Office of Advocacy
WASHINGTON, Feb. 20, 2013 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) Office of Advocacy has saved small businesses $2.4 billion in first-year regulatory costs, according to a new report published today. The Report on the Regulatory Flexibility Act FY 2012 released by the SBA Office of Advocacy – an independent office tasked with involving small businesses in the federal regulatory process – details the office's work in minimizing the impact of federal regulations on small businesses over the past fiscal year.
"I am proud that Advocacy is living up to its reputation as the small business watchdog within the federal government," said Dr. Winslow Sargeant, Chief Counsel for Advocacy. "As a former small business owner myself, I know small businesses don't have the time or resources to keep track of all the proposed federal rules and regulations. So, our job is to monitor that process for small businesses. Advocacy's guiding purpose is to work with federal agencies to get the results they want, while easing the burden of those regulations on small businesses."Advocacy's Report on the Regulatory Flexibility Act FY 2012, shows the office's work helping federal agencies comply with the Regulatory Flexibility Act of 1980 (RFA). One important part of the law requires federal agencies to review proposed regulations that would have a significant impact on small entities and to consider significant alternatives that would minimize the regulatory burden on them while achieving the rules' purposes. The report also takes into account Advocacy's work helping agencies comply with Executive Order (E.O.) 13272, which requires federal agencies to create a systematic process for reviewing rules with an eye toward reducing the regulatory burden. From holding roundtable discussions around the country, to issuing comment letters on proposed regulations, to training federal agencies on RFA compliance, the report outlines Advocacy's work voicing the concerns of small businesses throughout the federal government. The report also discusses Advocacy's work through congressional testimony, advocacy for legislative reform and vital economic research on small business issues.
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