Regulation Review and Reform
Small business owners have nominated over eighty existing regulations for review and reform in response to the Small Business Administration Office of Advocacy’s Regulatory Review and Reform (r3) initiative.
Advocacy created the r3 initiative because complying with federal regulations now costs our economy $1.1 trillion per year, which costs more per household than healthcare. The smallest of businesses bear the brunt of regulations. They annually pay 45 percent more per employee to comply with federal regulations than big businesses do.
The Office of Advocacy will transmit the Top 10 list to agencies in the spring and will work to ensure that the listed rules will be reviewed and reformed. In order to track agency progress, the recommended reforms will be posted on Advocacy’s website and an update on the status of reforms will be published twice a year. Advocacy encourages small businesses and their representatives to follow the progress of the reforms and comment to the agencies on that progress.
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