U.S. House leaders are directing committees to identify regulations & procedures that impede economic growth. The U.S. House recently adopted House Resolution 72 by an overwhelmingly bi-partisan vote of 391 – 28 that directs the following congressional committees to “inventory and review existing, pending, and proposed regulations and orders from agencies of the Federal Government, particularly with respect to their effect on jobs and economic growth” that affect…
- Energy and Commerce
- Financial Services
- Natural Resources
- Oversight and Government Reform
- Transportation and Infrastructure
- Ways and Means
- Committees on Education and the Workforce, and Small Business
What the Committees are Looking for…
Committees are currently in the process of reviewing regulations and upon completion of their review, respective Committees are required to: (1) consider specified matters; (2) conduct any hearings and other oversight activities necessary in support of the inventory and review; and (3) identify in a report on the first session of the 112th Congress any oversight or legislative activity conducted in support of, or as a result of, such inventory and review.
Each committee will identify regulations, executive and agency orders, and other administrative actions or procedures that: (1) impede private-sector job creation, (2) discourage innovation and entrepreneurial activity, (3) hurt economic growth and investment, (4) harm the nation’s global competitiveness, (5) limit access to credit and capital, (6) fail to utilize or apply accurate cost-benefit analyses, (7) create additional economic uncertainty, (8) are promulgated in such a way as to limit transparency and the opportunity for public comment (particularly by affected parties), (9) lack specific statutory authorization, (10) undermine labor-management relations, (11) result in large-scale unfunded mandates on employers without due cause, or (12) impose undue paperwork and cost burdens on small businesses.
Congress, and the nation, are searching for the right amount of regulation that protects the general public and consumers while allowing for competitive and efficient businesses to flourish and help our economy recover and remain strong in the 21st century.
The Impact on Your Organization…
Decisions made by lawmakers and government officials directly impact your business or organization operations. And, the adoption of policies and regulations always contain unintended consequences. Consider some of the following examples of how changes in policy can impact your organization:
- In California, a rule protecting an Endangered Species restricted pumping of water to fruit and vegetable growers, just as they were experiencing an extreme drought.
- In 2002, the Sarbanes-Oxley Act, was signed into law. All small, medium and large organizations must comply with this regulation. Sarbanes-Oxley does not apply to privately held companies. Congress enacted this law in response to corporate accounting scandals that caused millions of investors, consumers, and most organizations to lose their life savings and investment portfolio. But the cost to U.S. businesses to comply is costly. Companies face both quantifiable and non-quantifiable cost increases such as higher D&O insurance premiums and increased expenses to monitor internal controls. Both types of costs have proven to be significantly higher than originally estimated by the Securities and Exchange Commission.
- In testimony before the U.S. House Subcommittee on Energy and Power earlier this month, Dr. Margo Thorning, American Council for Capital Formation, stated that while business confidence has improved, uncertainty abounds on future capital investments due to the unknown costs and requirements of complying with the Environmental Protection Agency’s efforts to regulate greenhouse gas emissions (GHG) under the Clean Air Act (CAA). Dr. Thorning concluded the use of economic analysis suggests that regulating GHG under the CAA will slow investment and job growth and have no significant impact on reducing global GHG emission growth.
What Can You Do to Protect Your Interests…
At Cansler Consulting it is our priority to help your business and organization influence government decisions before they happen. We use our experience and network to identify decision-makers and learn the political or policy reasons behind their decisions so that you can make informed decisions. We help you develop a plan to educate lawmakers and policy officials showcasing the practical effect of regulations on your business or organization.
As congressional committees scour the federal government looking for efficiencies in government operations and over burdensome regulations do you know how your business or organization will be impacted? Are you aware of particular regulations hampering your business? Do you have ideas for more efficient regulatory oversight by the government?
Call Cansler Consulting and we’ll begin answering these questions and get your ideas before the right lawmakers so they are aware of the impacts of specific regulations on your business or organization.
- Is Your Government Relations Team #SmartWorking? - April 14, 2020
- President Trump Challenges to Use Better Infrastructure Techniques - April 6, 2020
- COVID-19: U.S. Stimulus Package #3 - April 1, 2020