Pixel Tracker

Sunday, December 16 , 2018, 11:02 am | Partly Cloudy 61º

 
 
 

Tom Donohue: It’s Time for a Respite from Regulations

Regulatory overhaul will help the U.S. economy grow and stay globally competitive

The single biggest obstacle to job creation — U.S. global competitiveness — and the future of free enterprise is a regulatory tsunami that is unprecedented in recent history.

The new health-care law, for example, creates 159 agencies, commissions, panels and other bodies. The Dodd-Frank financial regulatory law includes more than 550 rulemakings, suggested rulemakings, reports and studies. The list goes on and includes more than 100 new labor rules and the Environmental Protection Agency’s effort to regulate greenhouse gas emissions. Taken together, federal regulations fill 150,000 pages of fine-print text and cost Americans $1.7 trillion a year.

That’s why the U.S. Chamber of Commerce welcomed President Barack Obama’s executive order that initiates a review of excessive, inconsistent and redundant regulations as a positive first step in what we hope is a broader reform effort.

The next step will come when the administration backs up its intentions with an aggressive, concrete plan to pare back the growing regulatory state. To help the U.S. economy grow and remain globally competitive, we need a regulatory overhaul. This will require the replacement or repeal of outdated and ineffective regulations, as well as those that the president labeled as “just plain dumb.”

The use of realistic cost-benefit analyses based upon quality data is also essential, as is congressional action to reclaim some of the authority that lawmakers have delegated to the agencies and to provide rigorous oversight.

The chamber is concerned that the executive order only reinforces an existing Carter-era law — ignored by federal agencies — mandating the periodic review of regulations that have a significant economic impact upon a substantial number of small businesses. A provision of the Clean Air Act — requiring a continuous evaluation of potential loss or shifts of employment because of regulations — has likewise been brushed aside. So, to an extent, the administration is just reinventing the wheel when what matters is turning it.

This critique of an ever more challenging regulatory landscape, however, doesn’t mean that business opposes all regulations. To the contrary, smart regulations are necessary to define the rules of the road. Regulations can also have a positive impact in such areas as the environment, workplace safety and consumer protection. But the reach of the regulatory state has grown far too long.

In the months ahead, the chamber will work with the White House, Congress and the federal agencies to advance commonsense regulatory reform measures. We’re going to be in this fight for the long haul, because smarter, less burdensome regulations foster growth and job creation.

— Tom Donohue is president and CEO of the U.S. Chamber of Commerce.

Support Noozhawk Today

You are an important ally in our mission to deliver clear, objective, high-quality professional news reporting for Santa Barbara, Goleta and the rest of Santa Barbara County. Join the Hawks Club today to help keep Noozhawk soaring.

We offer four membership levels: $5 a month, $10 a month, $25 a month or $1 a week. Payments can be made using a credit card, Apple Pay or Google Pay, or click here for information on recurring credit-card payments and a mailing address for checks.

Thank you for your vital support.

Become a Noozhawk Supporter

First name
Last name
Email
Select your monthly membership
Or choose an annual membership
×

Payment Information

Membership Subscription

You are enrolling in . Thank you for joining the Hawks Club.

Payment Method

Pay by Credit Card:

Mastercard, Visa, American Express, Discover
One click only, please!

Pay with Apple Pay or Google Pay:

Noozhawk partners with Stripe to provide secure invoicing and payments processing.
You may cancel your membership at any time by sending an email to .(JavaScript must be enabled to view this email address).

  • Ask
  • Vote
  • Investigate
  • Answer

Noozhawk Asks: What’s Your Question?

Welcome to Noozhawk Asks, a new feature in which you ask the questions, you help decide what Noozhawk investigates, and you work with us to find the answers.

Here’s how it works: You share your questions with us in the nearby box. In some cases, we may work with you to find the answers. In others, we may ask you to vote on your top choices to help us narrow the scope. And we’ll be regularly asking you for your feedback on a specific issue or topic.

We also expect to work together with the reader who asked the winning questions to find the answer together. Noozhawk’s objective is to come at questions from a place of curiosity and openness, and we believe a transparent collaboration is the key to achieve it.

The results of our investigation will be published here in this Noozhawk Asks section. Once or twice a month, we plan to do a review of what was asked and answered.

Thanks for asking!

Click Here to Get Started >

Reader Comments

Noozhawk is no longer accepting reader comments on our articles. Click here for the announcement. Readers are instead invited to submit letters to the editor by emailing them to [email protected]. Please provide your full name and community, as well as contact information for verification purposes only.

Daily Noozhawk

Subscribe to Noozhawk's A.M. Report, our free e-Bulletin sent out every day at 4:15 a.m. with Noozhawk's top stories, hand-picked by the editors.

Sign Up Now >