Last January, President Obama issued an Executive Order directing all federal agencies to review their regulations in an attempt to eliminate rules that hinder economic growth. In response, the agencies have identified more than 500 regulatory requirements that can be dropped and potentially save $10 billion in productivity and elimination of paperwork.
The President’s Order reminded government agencies of their responsibility to take flexible approaches to rulemaking so as to impose the least burden necessary when achieving regulatory objectives. While many rules are required by law, the Order notes that agencies usually have the ability to create alternative regulatory proposals for small-versus-large businesses based on differences in size and resources. A few of the regulatory changes would impact the auto industry. For example, the U.S. Environmental Protection Agency intends to reduce reporting and recordkeeping for its gasoline/diesel regulations and harmonize its greenhouse gas and fuel-economy standards.
Nevertheless, SEMA and many in the business community contend the reforms do not go far enough in lessening regulatory burdens, pointing to other candidates for change, such as health care reform and halting proposals to further tighten ozone standards.
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