Washington – Business Roundtable delivered a letter to the White House underscoring the “Top Regulations of Concern” identified by CEOs along with recommendations for minimizing their economic impact. Business Roundtable believes taking a smarter approach toward regulation is a key element in strengthening economic growth and job creation.
“The majority of these regulations directly and negatively impact economic growth,” said Mark J. Costa, Chairman and Chief Executive Officer of Eastman Chemical Company and Chair of the Business Roundtable Committee on Smart Regulation. “The cumulative effect of these regulations has drained resources from innovation and job creation and directed them to non-value adding administrative and bureaucratic activities. Across all sectors of the economy, we need a smarter approach to the regulatory process.”
The letter also highlighted proposed administrative changes to improve the regulatory process.
“While addressing existing regulations that are unduly burdensome is vitally important to help jump-start American business investment and job creation, Business Roundtable believes that fundamental regulatory process reforms are key to ensuring long-term success,” Costa wrote.
Business Roundtable CEOs have consistently identified overly complex and burdensome federal regulations as harmful to job creation, job retention and increased economic opportunity for American workers and their families. We support a smarter approach to federal regulation that would engage regulated parties earlier in the process, improve the quality of information used to make regulatory decisions and consistently apply rigorous cost-benefit analysis to major regulatory proposals.
Business Roundtable recently conducted a survey of its membership to identify regulations that are of most concern across all sectors of the economy. You can find the full list of “Top Regulations of Concern” here and read the letter here.