Everybody dreams of a comfortable retirement nest egg and security down the road, but a sweeping change by the Department of Labor (DOL) could have a direct impact on your piggy bank.
The Chamber recognizes the need for smart regulations to ensure workplace safety and protect public health. But with a $2 trillion price tag in compliance costs, an increasing number of huge and complex rules, and a permitting process that makes it virtually impossible to build anything, it's clear the regulatory system isn't working the way it should. Americans deserve a working regulatory system that is fair for everyone, takes into account the views of communities and businesses, evaluates the impact rules will have on jobs and small businesses, and protects our economic and personal freedoms.
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The Chamber is building support for commonsense regulatory reform based on four bipartisan principles.
- Accountability. Congress should insist on an up-or-down vote on the largest and most costly regulations and more carefully craft legislation so that the purpose of the new rules are perfectly clear and regulators' discretion in writing rules is limited.
- Transparency. Nothing would ensure greater transparency than eliminating sue and settle agreements, where key decisions about how and when to issue new regulations are made in secret under pressure from special interest groups, entirely outside of the normal rulemaking process.
- Participation. Agencies should be required to inform the public of pending regulatory decisions on high-impact rules early in the process, share their data and economic models, and allow those who will be affected adequate time for comments.
- Safe But Swift. Today, major energy, infrastructure, and necessary community improvement projects cannot be built or even granted a permit because of a broken environmental review process. With commonsense reforms, we don't need to choose between speed and safety. We can have both and we need both.
With these four simple principles in mind, the Chamber is advancing three bipartisan bills to reform and modernize the regulatory system:
- Permit streamlining legislation, which would create a more coordinated and efficient permitting process for federal regulatory reviews, environmental decision making, and permitting--without changing existing standards or environmental safeguards.
- The Regulatory Accountability Act, which would reform the regulatory process by increasing transparency during rule development, allowing interested parties access to the data, and making agencies consider alternatives that achieve their objective at a lower cost.
- The Sunshine Act, which would bring transparency and accountability to the sue and settle process, by allowing federal agencies to bring secret lawsuits filed by special interest groups out from behind closed doors.
Reforming our government's regulatory system and permitting process are issues that should unite Americans and their competing interests, not divide them.
Read more from the U.S. Chamber blog: 4 Steps to a Working Regulatory System
Our ideas on #RegReform are hardly unique--read what other publishers are saying about this issue:
- Backdoor and Backroom Regulation, Heather Peirce, The Hill
- EPA's Wood-Burning Stove Ban Has Chilling Consequences For Many Rural People, Larry Bell, Forbes
- Over-regulated America, The Economist
- Pay Up: Federal Regulations Cost U.S. Economy More Than $2 Trillion Annually, National Association of Manufacturers
- The Best and Worst of Regulation in 2014, Sam Batkins, American Action Forum
- The Cure For Regulation Destabilization, Clyde Wayne Crews, Forbes
- The Searching for and Cutting Regulations that are Unnecessarily Burdensome Act of 2014, Congressional testimony by Patrick McLaughlin, George Mason University
- The Unintended Consequences of Federal Regulatory Accumulation, Mercatus Center, George Washington University
The latest updates across all U.S. Chamber properties
TO: U.S. House Commitee on Science, Space, and Technology
RE: EPA Regulatory Overreach: Impacts on American Competitiveness
DATE: Thursday, June 4, 2015, 9:00 AM
TO: U.S. Senate Committee on the Judiciary (full committtee)
RE: Examining the Federal Regulatory System to Improve Accountability, Transparency and Integrity
DATE: Wednesday, June 10, 2015, 10:00 AM
"EPA must consider cost--including cost of compliance--before deciding whether regulation is appropriate and necessary," Justice Scalia wrote.
WASHINGTON, D.C.-- The U.S. Chamber of Commerce, in conjunction with the National Black Chamber of Commerce and the Illinois Black Chamber of Commerce, today hosted an event in Chicago to discuss how the proposed tightening of national ozone standards could have adverse employment and economic impacts on Illinois communities.
The Illinois Black Chamber of Commerce, National Black Chamber of Commerce, and U.S. Chamber of Commerce are hosting an event in Chicago, titled "The Impacts of Ozone Regulations on Jobs in Our Community."
The economic expansion following the 2007-2009 recession has been the weakest since World War II.
While regulators make many laws, all legislative power is still vested in Congress, and it needs to better ensure that agencies carry out its intent.
Four companies considering the region for investment indicated that the new standards prompted them to look elsewhere.
Unintended consequences often eclipse the improvements a rule aims to make, ultimately causing more harm than good.