Dear Chairman Johnson and Senator Carper:
On behalf of the more than 200 CEO members of Business Roundtable, who lead major U.S. companies operating in every sector of the economy, I write to endorse the following bills that would make the U.S. regulatory system more efficient and more effective:
- S. 708, Regulatory Improvement Act of 2015;
- S. 1607, Independent Agency Regulatory Analysis Act of 2015;
- S. 1817, Smarter Regulations Through Advance Planning and Review Act;
- S. 1818, Principled Rulemaking Act of 2015; and
- S. 1820, Early Participation in Regulations Act.
Nearly three-quarters of Business Roundtable CEOs list regulations as one of the top three cost pressures facing their businesses. In a recent survey, 82 percent of Business Roundtable members said that they find the U.S. regulatory system more burdensome than that of other developed countries. Also, 56 percent believe pending regulations will negatively affect their hiring and capital spending over the next two years. These findings are alarming if we want a healthy, growing U.S. economy that provides economic opportunities for all.
Business Roundtable CEOs are not against regulation; rather they are strong advocates for a smarter regulatory system with greater clarity regarding the costs, benefits and cumulative burdens placed on America’s job creators. Regulations must be developed based on the best available science, the application of rigorous cost-benefit analysis, the establishment of realistic timetables and careful consideration of the burdens placed on business.
Business Roundtable CEOs believe that a smarter regulatory system and a modernized federal permitting process will help drive increased business investment, economic growth and job creation.
We are grateful for your leadership on these issues and look forward to working with you and your staff on these and related efforts to make the U.S. regulatory system more efficient and more effective.
Andrew N. Liveris
President, Chairman and CEO
The Dow Chemical Company
Chair, Smart Regulation Committee
C: The Honorable Heidi Heitkamp
The Honorable James Lankford