Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.
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.
Recent Activities in Smart Regulation
Business Roundtable members support passage of the bipartisan Federal Permitting Improvement Act of 2013 – introduced yesterday by Senators McCaskill and Portman – a bill that would address the current complex federal permitting process.
On behalf of the CEO members of Business Roundtable, I write to express our support for your bill, the Federal Permitting Process Improvement Act of 2013.
Read the Op-Ed in the Minneapolis Star Tribune
By Omar Ishrak
Chairman and CEO, Medtronic Inc. and member of the Business Roundtable
In Minnesota this week, the chairmen of the powerful congressional tax-writing committees, Sen. Max Baucus and Rep. Dave Camp, launched their national tour to promote comprehensive tax reform. Minnesota businesses and residents should applaud this initiative, because the time for tax reform is long overdue.
H.R. 2122 would implement the key recommendations of Achieving Smarter Regulation.
Smart regulation is integral to protecting the economy and the American workforce. A smarter regulatory process would provide broad societal value, inspire business confidence and accelerate investment. At present, however, U.S. businesses, both small and large, are increasingly burdened by the cumulative impact of regulations issued under the current process. While each of these rules was well-intentioned, their collective effect has begun to hobble the U.S. economy: