IRFASInformal Regional Functional Analysis Seminar
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The Chamber told OMB that it should direct DOL to republish a Supplemental Initial Regulatory Flexibility Analysis (IRFA) "that remedies the errors and omissions identified in the inadequate current version, and receives and considers public comments on the republished IRFA."
"Should DOL refuse to republish the IRFA, we would otherwise request that the Office of Information and Regulatory Analysis (OIRA) within OMB conduct an independent economic impact analysis on the proposed rule's impact on small businesses."
The RFA requires each federal agency to review its proposed and final rules that are subject to notice and comment rulemaking under section 553 of the Administrative Procedure Act (APA) (34) or another statute to determine if the rules will have a "significant economic impact on a substantial number of small entities." (35) Unless the head of the agency can certify that a proposed rule will not, if promulgated, have a significant economic impact on a substantial number of small entities, (36) the agency must prepare an initial regulatory flexibility analysis (IRFA) and make it available for public review and comment.