Today, Business Roundtable submitted a statement for the record to the U.S. Senate Committee on Homeland Security and Government Affairs, Subcommittee on the Efficiency and Effectiveness of Federal Programs and the Federal Workforce hearing on smart regulation, titled “A More Efficient And Effective Government: Improving the Regulatory Framework.”
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
Business Roundtable, an association of chief executive officers who lead companies that operate in every sector of the U.S. economy, appreciates the opportunity to submit this statement for consideration by the Subcommittee on the Efficiency and Effectiveness of Federal Programs and the Federal Workforce. Our statement makes the case for a smarter regulatory system and a streamlined federal permitting process.
On behalf of the more than 200 CEO members of Business Roundtable, who lead companies that operate in every sector of the U.S. economy, we applaud the Subcommittee for holding an important hearing on smart regulation titled, “A More Efficient And Effective Government: Improving the Regulatory Framework.”
As part of a 2014 growth agenda that includes expanding trade, restoring fiscal stability and reforming America’s tax and immigration systems, Business Roundtable member companies believe passage of the Achieving Less Excess in Regulation and Requiring Transparency Act of 2014 (H.R. 2804) – the ALERRT Act – would help create a regulatory environment that is more conducive to increased economic growth and job creation.
Business Roundtable strongly supports the Water Resources Reform and Development Act (WRRDA) reauthorization, which includes provisions to expedite federal permitting for water resources projects.