Advocacy Involvement Helps Relieve Small Business of Regulatory Burdens in FY 2016
Fiscal Year 2016 was a milestone in the Office of Advocacy’s history. It marked 40 years since the office’s founding, 20 years since the passage of the Small Business Regulatory Enforcement Fairness Act, and 15 years of carrying out the duties of Executive Order 13272. Today, the Office of Advocacy, an independent office within the Small Business Administration, released its annual report, “Report on the Regulatory Flexibility Act, FY 2016.” The report analyzes federal agencies’ compliance with the Regulatory Flexibility Act (RFA), the Small Business JOBS Act of 2010, and Executive Order 13272. A summary of the research is also available.
“As we report to the President and Congress on another challenging yet rewarding year, Advocacy continues to ensure that the small business voice is heard throughout the federal government,” said Chief Counsel Darryl L. DePriest. “I am deeply honored to have been the leader of a team that so fully dedicates itself to the success of the small business owners and entrepreneurs who provide the innovation, diversity, optimism, and risk-taking spirit that are crucial to economic growth in America.”
The RFA is Advocacy’s most effective tool for bringing small business concerns into the regulatory process. In FY 2016, Advocacy’s intervention on behalf of small business in the federal rulemaking process resulted in foregone regulatory cost savings of almost $1.4 billion. This cost savings number comes from Advocacy’s work on seven rules that were made final in FY 2016.
These cost savings and other regulatory successes stem from small business involvement made possible by the RFA. Advocacy facilitated this during FY 2016 through 27 small business roundtables, 20 public comment letters, working closely with agencies on small business concerns, and ongoing federal agency training in RFA compliance.