U.S. Senator Jim Risch (R-ID), Chairman of the Senate Committee on Small Business and Entrepreneurship, today applauded the recent efforts of the Small Business Administration’s regulatory watchdog, the Office of Advocacy, for taking on a more proactive role on behalf of small businesses in the regulatory process. Following President Trump’s executive orders calling for regulatory reform at federal agencies, the Office of Advocacy is taking online comments on regulations and is hosting a series of roundtables across the country to hear concerns directly from small business owners.
“Federal agencies don’t understand how much new regulations increase costs and uncertainty in the business world,” said Senator Risch. “The estimated cost of compliance with federal regulations of $108 billion annually is disproportionately shouldered by small businesses. The Office of Advocacy is an important liaison to ensure that there are stronger controls on D.C. agencies and appropriate analysis before implementing costly new regulations.”
The Office of Advocacy’s new webpage makes it easier to capture feedback on regulations: www.sba.gov/advocacy/regulatory-reform. On this page, small business owners can describe the problems that federal regulations are causing for them, and access President Trump’s recent regulatory reform executive orders.
Risch is a sponsor of the Small Business Regulatory Flexibility Improvements Act, which would require federal agencies to analyze the full impact of a proposed regulation on small businesses during the rulemaking process.
“As many recent surveys of small business owners show, entrepreneurs are more optimistic than ever that the economy is ripe for growth,” said Risch. “It is up to Congress and the Administration to deliver the regulatory relief that they need in order to start and to thrive.”
The Senate Committee on Small Business and Entrepreneurship oversees proposed legislation on matters relating to entrepreneurship and provides oversight of the Small Business Administration. The committee also researches, investigates and reports all problems relating to America’s small businesses to the full Senate.