Obama to Launch Regulatory Review to Spur Job Growth
President Obama plans a government-wide review of federal regulations in an effort to eliminate rules that hinder economic growth, he wrote in a Wall Street Journal opinion piece published Tuesday.
The president wrote that he will issue an executive order initiating rules review to “make sure we avoid excessive, inconsistent and redundant regulation,” and focus on rules that “stifle job creation and make our economy less competitive.”
The move is the latest effort by the White House to repair relations with corporate America, hoping to spur investment by the largest U.S. companies multinationals and reduce unemployment, the Journal reported in a separate news story.
Obama defended his administration’s efforts to strike a “proper balance” between protecting the public and not interfering with economic growth and suggested future regulations must do their job “while promoting economic growth.”
He cited automobile and truck fuel economy standards as an example of how government can eliminate conflicting rules and give industry more certainty while, in this case, also helping improve mileage standards and reduce energy usage.
The president will visit the U.S. Chamber of Commerce early next month for a discussion on how the White House can work with the group — which has often been at odds with the administration — to create jobs, the Journal reported.
