The Honorable Gary D. Cohn
Director, National Economic Council
The White House
1600 Pennsylvania Avenue, NW
Washington, DC 20500
Dear Mr. Cohn:
President Trump has made clear his intent to consider the cumulative impact of federal regulations on the U.S. economy to identify whether certain regulatory burdens can be reduced without undermining critical protections for consumer health, safety and the environment. Business Roundtable recently conducted a survey of its members to identify recent regulations that are of most concern across all our business sectors. The majority of these regulations directly and negatively impact economic growth. While some of the listed regulations in isolation may not appear significant to growth, their cumulative effect has drained resources from innovation and job creation and directed them to non-value adding administrative and bureaucratic activities. I have attached this "Top Regulations of Concern” list, along with recommendations to mitigate their impact. It is important to note that Business Roundtable is not proposing that all regulations on this list be repealed, although some are so deficient they cannot easily be fixed. Others can be improved, however, by providing additional compliance flexibility, which will help to reduce unnecessary costs and compliance burdens.
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. In addition to our Top Regulations of Concern, I am attaching a list of administrative actions that can be implemented immediately to improve the efficiency and effectiveness of the existing regulatory process. Other recommendations, including codification and improvement of the cost/benefit analysis required by Executive Order 12866, will require legislation, which will take time.
Lastly, as the Administration considers new policies with regard to immigration or the expansion of “Buy America” requirements, Business Roundtable stands ready to assist to prevent unintended consequences that would inhibit the ability for U.S. companies to drive economic growth and be globally competitive.
Please feel free to contact us if you have any questions or if we can be helpful in any way.
Mark J. Costa
Chairman and Chief Executive Officer
Eastman Chemical Company
Chair, Smart Regulation COmmittee
C: Reince Priebus, The White House