IBJNews

Obama considers shedding rules that hurt job growth

Back to TopCommentsE-mailPrintBookmark and Share

Taking another step toward mending his relationship with the business community, President Barack Obama will order a review of federal regulations with an eye toward getting rid of those that stifle job creation and hurt economic growth

The president planned to sign an executive order Tuesday telling federal agencies to look for rules that place an unreasonable burden on businesses.

In an opinion column Tuesday in The Wall Street Journal, the president also said he wants his administration to strike a balance between protecting the public and promoting economic growth.

The move comes as the Obama administration works to repair its relationship with corporate America, which has been reluctant to make investments and hire more people, in part because of uncertainty over government regulations and tax policies. Following his party's sweeping defeats in November's midterm elections, Obama acknowledged that he needed to better manage his relationship with the private sector.

Since then, the White House has steadily courted support from the business community: Obama held a five-hour meeting with CEOs in December; he named William Daley, a business executive, as his new chief of staff; and next month, he'll speak at the Chamber of Commerce, a trade group that has battled his top policy initiatives on health care and financial regulation.

Officials at the Chamber said Tuesday they were studying Obama's new regulatory review.

The review, Obama wrote, tells agencies to look for outdated regulations that make the U.S. economy less competitive.

"It's a review that will help bring order to regulations that have become a patchwork of overlapping rules, the result of tinkering by administrations and legislators of both parties and the influence of special interests in Washington over decades," Obama wrote.

Federal agencies also won't shy away from addressing gaps in regulations, such as new safety rules for infant formula and procedures that stop preventable infections from spreading in hospitals, Obama wrote.

"We are also making it our mission to root out regulations that conflict, that are not worth the cost, or that are just plain dumb," the president wrote.

Other regulations, such as the Clean Air Act or child labor laws, are necessary to prevent abuse, he wrote, and "strengthen our country without unduly interfering with the pursuit of progress and the growth of our economy," he wrote.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

ADVERTISEMENT