Dear Mr. President:
Thank you for your recently promulgated Executive Order on Improving Regulation and Regulatory Review. America’s CEOs applaud your initiative to rebalance the federal regulatory apparatus and avoid regulations that impede innovation, diminish U.S. competitiveness in the global economy, and restrain job creation and economic expansion – while providing little or no benefit to Americans.
Business Roundtable CEOs lead companies that collectively employ more than 13 million Americans and generate nearly $6 trillion in annual revenues. Our member companies lead the world in innovation, export a substantial share of their products and are the cornerstones of the thousands of communities across America in which they operate. We are focused on creating a foundation of growth and prosperity for America and a safe repository for middle class savings.
We share with you a common set of goals: to accelerate U.S. economic recovery, create new jobs and build the infrastructure of the 21st century economy. We want to ensure that America remains the world’s economic and technological leader and the first choice for global business investment.
Business Roundtable urges swift action by both the Administration and Congress to relieve U.S. companies of burdensome regulations that threaten economic recovery and throttle job creation. Restoring American prosperity must be the first order of business for the U.S. government and all of its agencies. A more economically secure and prosperous nation will have greater capacity to bear the cost – and enjoy the benefits – of prudent and necessary regulation.
I have attached a statement of Business Roundtable’s position on urgently needed regulatory reform that outlines in some detail the business community’s principles for implementing the review and restructuring process you have initiated.
Business Roundtable stands ready to work with you to carry these principles forward and create a more rational and effective regulatory system. In the coming weeks, we will identify specific regulations and proposed regulations that our CEOs believe have the greatest negative impact on U.S. economic growth and job creation.
We recognize that reviewing and streamlining government regulation will not be a quick or easy endeavor. We are grateful for your leadership in taking an important step to begin this work.