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Statement on the President’s Initial Regulatory Review

Washington – “Business Roundtable is encouraged by steps the Administration has taken on President Obama’s plan to create a 21st-century regulatory system and welcomes the planned elimination of several existing rules that have imposed excessive costs, delays and paperwork burdens on businesses. However, much more work needs to be done to create a balanced regulatory system that promotes economic growth and job creation.

“Regulations are like ‘hidden taxes’ that impose costs that are not readily apparent, yet are enormous. The soaring costs of regulation stifle productivity, wages and economic growth. Inefficient regulations also undermine jobs and international competitiveness.

“Business Roundtable CEOs have been working hard to address concerns surrounding new and existing regulatory requirements burdening America’s job-creating businesses. On April 12, we sent to President Obama a list of 24 of the most problematic regulations and highlighted six issues we believe will have the largest adverse economic and jobs impact, as follows:

  • Increase offshore oil and natural gas leasing
  • Promote Alaska oil and gas development
  • Revisions to ozone national ambient air quality standards
  • Greenhouse gas regulations
  • Industrial and Utility Boiler MACT standards
  • Codify clear end user exemption for derivatives

“Government must not only reduce regulation, but we must regulate smarter. With unemployment remaining high at nearly 9 percent, it is crucial that we make serious progress to address these regulatory issues so that American business can do what it does best – drive innovation and create jobs,” said Business Roundtable President John Engler

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