President Obama Issues Executive Order On Improving Regulation and Regulatory Review
Advocacy Strongly Supports Focus on Small Business
Chief Counsel for Advocacy Winslow Sargeant praised President Obama’s efforts on behalf of small business following the President’s signing Executive Order, “On Improving Regulation and Regulatory Review.” The executive order requires federal agencies to review and remove outdated regulations and, where consistent with law, consider the costs and benefits of a regulation and choose the least burdensome path.
“I applaud President Obama’s efforts today to reduce excessive and unjustified regulatory burdens on small business,” said Sargeant. “The Office of Advocacy looks forward to continuing to work closely with federal agencies and small business to design cost-effective, evidence-based regulations that are compatible with economic growth, job creation, and competitiveness.”
The Office of Advocacy’s research shows that small businesses with fewer than 20 employees spend 36 percent more than larger firms to comply with federal regulations. For thirty years, Advocacy has monitored federal agencies compliance with the Regulatory Flexibility Act, working with small businesses to reduce the regulatory burden.
The President also issued a memorandum on regulatory flexibility, small business and job creation. In it the President reasserted the need for all federal agencies to consider ways to reduce regulatory burdens on small business. The memorandum also requires that agencies provide justifications when such flexibilities are not included in a proposed regulation.