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.
Overly complex and costly federal regulations are holding America’s economy back, throttling business investment and slowing job growth. In fact, more than half of Business Roundtable CEOs say that pending regulations will negatively affect their hiring and capital spending in the short term. In the long term, almost two-thirds believe they will be negatively affected.
Business Roundtable supports legislative and administrative actions that would make the federal regulatory process more transparent and open to public engagement, improve the quality of information used in the rulemaking process, require more objective cost-benefit analysis, extend that requirement to so-called independent agencies, and modernize the federal permitting process.
Making the federal regulatory system more efficient and effective will reduce the economic burden of regulation while protecting health, safety and environmental quality.
Last updated August 16, 2016
Recent Activities in Smart Regulation
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.
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.
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.
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.