Smart Regulation | Business Roundtable

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LeAnne Redick Wilson
Senior Vice President
​lwilson@brt.org

    

What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

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. Fifty-six percent believe pending regulations will negatively affect their hiring and capital spending over the next two years. And 68 percent indicate that if existing regulatory costs were reduced by 20 percent, the money saved would be invested in increased research and development. 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.

Business Leaders Welcome House Action on Smart Regulatory Improvement

America’s business leaders welcome House passage of the Regulatory Accountability Act of 2017 because it will help accelerate job creation, while making the U.S. regulatory system more transparent, accountable and effective.

Business Roundtable Supports H.R. 5, Regulatory Accountability Act

The Regulatory Accountability Act of 2017 would make the U.S. regulatory system more transparent, accountable and effective.

Key Stats on Smart Regulation

Whether it be in the context of private enterprise or public policy, Business Roundtable CEOs believe that sound decisions must be grounded in the facts.  Our commitment to evidence-based, data-driven decision making is embodied in the Business Roundtable Data Monitors — a suite of executive-style dashboards that illustrate key data points and trends in various areas of public policy.

Administration’s ‘Blacklisting’ Rules Drive up Costs, Burdens in Federal Contracting

A new “blacklisting” rule from the Department of Labor represents yet another regulatory overreach by the executive branch, bypassing Congress to multiply paperwork and costs for federal contractors – and by extension, the U.S. taxpayer.

Major Regulations of Concern

Business Roundtable CEOs have identified existing, pending or proposed regulations that may impose significant costs on the economy and unnecessary burdens on business.

A Strong Bipartisan Case for Improving Regulations

When a number of U.S. Senators began looking for ways to boost economic growth while making the federal government more efficient, they identified a promising area for bipartisan action: regulation.

Members of Congress have debated scores of regulatory reform bills over the years – many with great merit – and a few ideas have now come to the fore as both effective and doable. They form the heart of the Regulatory Improvement Act¸ a discussion draft in the Senate that embraces well-known, bipartisan proposals.

BRT: White House Plan to Speed Infrastructure a Positive Step

Expanded ‘Dashboard,’ New Guidance for Agencies after 30 Years Will Improve Federal Permitting

Adopt a Smarter Approach to Regulation

A nation’s regulatory system is one of the most telling indicators of its business environment. Business Roundtable supports a smarter, more modern approach to regulation that meets regulatory goals while also promoting innovation, economic growth and job creation. Read More

Major Regulations of Concern

Nearly three-quarters of Business Roundtable CEOs list the cost of regulations as one of the top three cost pressures facing their businesses. Business Roundtable CEOs identified 32 different existing, pending or proposed regulations or policies that may impose significant costs on the economy and unnecessary burdens on business. Of those 32 regulations, seven were identified most frequently as being of the highest concern.

  Full List of Major Regulations of Concern   

Revision of the Ozone National Ambient Air Quality Standard

On Oct. 1, 2015, the Environmental Protection Agency (EPA) announced a rule that will lower the current ozone air quality standard from 75 to 70 parts per billion (ppb). Business Roundtable opposed this change, pointing out that EPA has not fully implemented the 75 ppb standard. 

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Clean Power Plan

The Environmental Protection Agency (EPA) has proposed new source performance standards for electric utilities that would preclude new coal-fired units from being built unless equipped with carbon capture and control technology. EPA also has proposed carbon reduction targets for existing electric generating unit fleets on a state-by-state basis, based on what it has determined to be the “best system of emission reduction” (BSER). BSER would include statewide end-user energy conservation measures, fuel switching, renewables and power plant efficiency.  

EEOC Actions Regarding Wellness Programs

The Equal Employment Opportunity Commission (EEOC) has proposed standards for employer-sponsored wellness plans that differ needlessly from those established under the Affordable Care Act.

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"Fair Pay and Safe Workplaces" Executive Order (EO 13673)

The Executive Order (EO) requires prospective federal contractors to report whether they, or their subcontractors, have violated a wide variety of state and federal labor laws when they bid on contracts. The EO also prohibits employers with federal contracts of $1 million or more from requiring employees working on those contracts to enter into pre-dispute arbitration agreements for Title VII complaints or from torts related to sexual assault or harassment. Lastly, the EO also established new wage and hour reports for employees and independent contractors working on federal contracts.

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New Source Review Under the Clean Air Act

“Major modifications” to major stationary sources trigger a requirement for New Source Review. While “major modification” excludes routine maintenance, repair and replacement, these terms are not clearly defined and have been interpreted differently by the Environmental Protection Agency over time. 

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Updating the Fair Labor Standards Act Overtime Rules

New final regulations under the Fair Labor Standards Act (FLSA) will increase the annual salary threshold used to determine which employees are eligible for overtime pay from $23,660 to $47,476. At the same time, the new regulations failed to remove complexities and uncertainties that would have made the rules easier for employees and employers. The rule was set to take effect on December 1, 2016, but a federal judge blocked its implementation. The rule is on hold pending further action from the court.

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EEOC Proposal on Reporting Pay Data

Report to include collecting pay data from employers by adding data on pay ranges and hours worked to the information already reported by race, ethnicity, sex, and job category.

Unlock Business Investment: Modernize the Federal Permitting Process

Speeding federal permits will provide the momentum for greater U.S. job creation and growth. There is widespread, bipartisan agreement – from the President’s Jobs Council to the building trades unions – that improving the federal permitting process will help unlock investment, leading to economic growth and job creation Read More

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Committee Priorities

Business Roundtable supports a smarter, more modern approach to regulation that meets regulatory goals while also promoting innovation, economic growth and job creation. Read More
Business Roundtable CEOs have identified 32 different existing, pending or proposed regulations or policies that may impose significant costs on the economy and unnecessary burdens on business. Read More
There is widespread, bipartisan agreement – from the President’s Jobs Council to the building trades unions – that improving the federal permitting process will help unlock investment, leading to economic growth and job creation. Read More