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Regulatory Corner
The Consumer Financial Protection Bureau is conducting three industry surveys as part of an assessment of the TILA-RESPA Integrated Disclosures Rule. The surveys will assist CFPB in understanding the impact of TRID on small businesses. Survey deadline: Mar. 6, 2020.
The U.S. Department of the Interior's Fish and Wildlife Service issued a proposed rule to redefine the scope of the Migratory Bird Treaty Act as applied to conduct resulting in injury or death of migratory birds. Comment deadline: Mar. 19, 2020.
The U.S. Environmental Protection Agency published a draft risk evaluation for carbon tetrachloride under TSCA to determine whether the solvent presents an unreasonable risk of injury to health or the environment. Comment deadline: Mar. 27, 2020.
The U.S. Environmental Protection Agency published preliminary lists to identify manufacturers that could be subject to fees under the Toxic Substance Control Act for manufacturing any of 20 high-priority chemicals. Comment deadline: Mar. 27, 2020.
The U.S. Consumer Product Safety Commission published a request for comments on a Regulatory Flexibility Act review of the safety standards for full-size baby cribs and non-full-size baby cribs. Comment deadline: Mar. 31, 2020.
The U.S. Department of the Interior's Fish and Wildlife Service issued a proposed rule to create a critical habitat for the yellow lance, encompassing 319 river miles in North Carolina, Virginia, and Maryland. Comment deadline: Apr. 6, 2020.
The Internal Revenue Service released a proposed rule to provide guidance to employers about the amount of federal income tax to withhold from employee wages. Comment deadline: Apr. 13, 2020.
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Around the Country
Region 9 Advocate Marina DeWit recently spoke with a homeopathic practitioner in Yuma, Arizona, who shared concerns about new Food and Drug Administration guidance that would declare homeopathic drugs as unapproved "new drugs" and potentially remove them from the marketplace.
Economic Research
Advocacy recently released, "Small Business Lending in the United States, 2017." The report shows that small business lending from bank lenders remained positive in 2017 and small banks devoted larger shares of their assets to small business loans, while large banks issued a higher volume of small business loans.
Need Help With Regulatory Issues?
There are three main ways you can connect with Advocacy and share your concerns about regulatory burdens on small businesses:
1) Fill Out This Form, share it with your small business colleagues, and submit to Advocacy.
2) Talk to Your Regional Advocate about the regulatory issues your small business is experiencing.
3) Check Out Advocacy's Publication, "A Basic Guide to Federal Rulemaking and Small Business" to learn how small business can get involved in the federal rulemaking process.
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Stay Updated on New Regulations and Research
Want to keep up to date with proposed rules and new research from Advocacy? Visit https://advocacy.sba.gov/subscribe to sign up for our email listservs.
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Frequently Asked Questions
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Q: How many small businesses export to other countries?
A: There are 280,229 small exporters, meaning small businesses comprise 97.5% of exporting firms.
Q: How many people are employed by small businesses?
A: 47.3% of private sector employees, or 60 million out of 128.6 million employees, are employed by small businesses.
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Q: What percent of U.S. export value do small businesses account for?
A: Small businesses comprise 33.3% of known export value, or $429.3 billion out of $1.3 billion total.
Want To Learn More?
The Office of Advocacy’s publication, “Frequently Asked Questions About Small Business,” contains the latest government statistics. View more Small Business FAQ's by clicking here.
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