The following editorial was publish on The Hill by U.S. Chamber of Commerce President & CEO, Thomas J Donohue:
In an era of overregulation, more is the order of the day.
We’ve got more regulations coming down the pike; federal regulators are churning them out at a rate of 4,000 a year. The sheer volume of new rules and mandates is breeding uncertainty, driving up costs, and stifling hiring and investment.
We’re seeing a surge in “economically significant” rules, those bearing a price tag of $100 million or more. In 2003, the number of economically significant rules was 127. In 2012, 224 of these massive, costly regulations were in the pipeline. We’ve got regulations that are so big and complex that they’re creating bloated bureaucracies that aren’t getting the job done. Look no further than the Dodd-Frank Act and the Patient Protection and Affordable Care Act, sweeping overhauls of the financial regulatory and healthcare systems that are falling short. – See more
Source: Fullerton Chamber of Commerce