CEOs of America’s leading companies recently urged Congress to implement a comprehensive plan to reform the federal regulatory process. The strategic plan, released by executives of Business Roundtable and Andrew Liveris, chairman and CEO of Dow Chemical Co., outlines major challenges posed by federal regulations on business growth, innovation and job creation, and offers specific recommendations to meet those challenges.
Cal Dooley, American Chemistry Council (ACC) president and CEO, issued the following statement: “We applaud our friends and colleagues at Business Roundtable for taking a smart, proactive approach to regulatory reform and for working to relieve American business from burdensome regulations that hamper economic recovery.
“We especially welcome a focus on energy-intensive and trade-sensitive manufacturing industries like ours. As part of a highly regulated industry, America’s chemical manufacturers have witnessed firsthand the negative impact that excessive and poorly developed regulations can have on our ability to innovate and grow jobs in the U.S.
“For example, the National Academy of Sciences has pointed out persistent scientific inadequacies with the U.S. Environmental Protection Agency’s Integrated Risk Information System (IRIS). It is critical that IRIS safety assessments, which guide regulations at the federal and state level, are based on sound science and appropriate peer review. The Business Roundtable report reiterates the need for IRIS to be overhauled to ensure that safety assessments meet rigorous standards of scientific inquiry, transparency and quality.
“We agree with the Business Roundtable that the cumulative and competitive impacts of major regulations must be assessed to determine the full regulatory burden for a particular industry. The plan set forth today by America’s leading CEOs would help ensure that federal agencies understand the impact of regulatory proposals on jobs, investment and the economy before making regulations final.
“We urge Congress to implement these critical reforms in order to protect our nation’s ability to compete with less regulated markets overseas and create high-skilled, high-paying domestic manufacturing jobs here at home.”
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