Smart Regulation | Page 8 | Business Roundtable

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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.

Top Regulations of Concern

America’s CEOs Call for Swift Reform of the Federal Permitting Process

The BRT report, “Permitting Jobs and Business Investment: Streamlining the Federal Permitting Process,” lays out a roadmap to streamline the federal permitting process and unleash the jobs- and growth-creating potential of major, ready-to-build U.S. industrial projects.

Permitting Jobs and Business Investment

The CEOs of Business Roundtable believe that it is time to simplify, streamline and accelerate America’s permitting process with the goal of encouraging large-scale capital investments in the U.S. economy while maintaining the nation’s commitments to health, safety and soundness. With this goal in mind, this report identifies key challenges associated with the existing regulatory permitting system and sets forth a series of recommended reforms.

On hydrofracking, coordination

President Obama today signed an executive order that, if pursued diligently, could bring useful coordination to federal oversight of hydraulic fracturing used in natural gas production.

Stop fighting, and decide! And the perils of uncertainty

Fred Smith, President and Chief Executive Officer of FedEx Corporation, gave a forceful speech Tuesday at the National Association of Business Economists, demanding that policymakers get to work on the critical issues facing America.

Business Leaders Welcome House Passage of Bipartisan Amendments to Dodd-Frank

The Coalition for Derivatives End-Users today applauded the U.S. House of Representatives for passing meaningful amendments to the Dodd-Frank Wall Street Reform and Consumer Protection Act to protect companies that use derivatives to manage business risk, while more effectively focusing new regulations on the systemic risks the law was intended to address.

On regulations, cumulative effects, costs and benefits

Cass Sunstein, administrator of OMB's Office of Information and Regulatory Affairs, announced new guidance for executive branch agencies on Tuesday, instructing agencies to take into account the "cumulative effects" of regulations on affected parties. If the agencies seriously follow the guidance, some of the federal government's regulatory excesses may be ameliorated.

BRT Statement to Senate Committee on Homeland Security and Governmental Affairs Hearing

In these times of economic fragility and spiraling deficits, it is vital that the federal government work to increase accountability and trim excess. It also must provide smarter and better services for the American people and America’s businesses.

America’s CEOs Welcome White House ‘Smarter Regulation’ Effort

Business Roundtable (BRT) President John Engler today lauded the Administration and the White House Office of Information and Regulatory Affairs (OIRA) for their renewed focus on regulatory reform which embraces many of the solutions offered in BRT’s Achieving Smarter Regulation report released in September.

Taking Action for America

We, the CEOs of Business Roundtable have a plan to revitalize U.S. economic growth and job creation. We believe that America’s business leaders have an obligation to bring their real-world experience on economic matters to public policy, especially in a time of widespread joblessness and economic distress. Job creation depends on economic growth, which cannot occur unless businesses are free to innovate, invest and grow. Taking Action for America is a comprehensive plan to jump-start new business investment and knock down barriers to economic growth.

Taking Action for America: Smarter Regulation

A nation’s regulatory system is one of the most telling indicators of its business environment. On the one hand, smart regulations that clarify the “rules of the road” and are in line with broad societal values over multiple election cycles can provide an environment of stability, inspire business confidence and accelerate investment. On the other hand, regulations that create uncertainty and reflect shortsighted political interests can impose unproductive cost burdens on businesses and consumers, undermine confidence, and delay investment. The key distinction, therefore, is not the quantity of regulations but the effectiveness and efficiency of regulations as well as the balance between their costs and intended benefits.

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Committee Priorities

Business Roundtable conducted a survey of its members to identify regulations that are of most concern across all our business sectors. The majority of these regulations directly and negatively impact economic growth.

Read More
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
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