“Achieving Smarter Regulation” lays out a strategy for reform to achieve regulatory goals without stifling job creation and economic growth.
The report finds that federal regulation costs too much, slows business investment and discourages innovation. Most importantly, the total, cumulative burden on the economy likely is larger – much larger – than the sum of the estimated costs of individual rules. The current regulatory system has no mechanism for evaluating the cumulative cost and therefore cannot properly balance total costs and benefits.
Business Roundtable’s roadmap for achieving smarter regulation focuses on improving the transparency and accountability of the regulatory process. The report recommends that:
- The government should objectively analyze the costs and benefits of proposed and final major rules from all agencies, including “independent” regulatory commissions.
- Agencies should publicly disclose the estimated costs of planned regulatory actions early in the regulatory process and with greater specificity.
- The federal government should streamline the permitting process for siting and operating a new facility/project.
- Congress should consider changes to the “Administrative Procedure Act,” particularly relating to the content of the rulemaking record and greater judicial scrutiny of that record.
It’s Time to End Overly Prescriptive and Burdensome Federal Regulation.
Spur Job Creation and Growth with Smarter Regulation Today!