New Advocacy Report on Reg Flex Cost Savings

April 1, 2008

Small businesses realized $2.6 billion in first-year and $285 million in recurring cost savings in Fiscal Year 2007, according to the Report on the Regulatory Flexibility Act, FY 2007, which recently was issued by the U.S. Small Business Administration Office of Advocacy. Covering agency activity from Oct. 2006 to Sept. 2007, the report outlines agency compliance with the Regulatory Flexibility Act of 1980 (RFA), which requires agencies to consider the impact of their rules on small entities and examine significant alternatives that reduce it.

In their effort to lessen the regulatory burden borne by small businesses, in FY 2007 the Office of Advocacy also held 14 RFA training sessions, reviewed 469 regulations to assess RFA compliance, convened 29 roundtables focused on regulatory proposals, submitted 30 public comments to federal agencies, and testified or presented their position to Congress six times.

NSBA has long supported the important objectives of the Office of Advocacy. Charged with analyzing the role of small businesses in the U.S. economy, pursuing policies that support small-business growth, and ensuring that the needs and concerns of small firms are considered by the federal government, the responsibilities of the Office of Advocacy are far-reaching and vital. To protect the Office of Advocacy’s strong and proactive agenda, NSBA advocates for increased autonomy for the Advocacy through an independent line-item budget.

Please click here for the full report.