{"id":2003326,"date":"2023-08-17T04:14:09","date_gmt":"2023-08-17T08:14:09","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/industry-groups-fear-new-biden-regulatory-changes-could-hobble-growth\/"},"modified":"2023-08-17T04:17:40","modified_gmt":"2023-08-17T08:17:40","slug":"industry-groups-fear-new-biden-regulatory-changes-could-hobble-growth","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/industry-groups-fear-new-biden-regulatory-changes-could-hobble-growth\/","title":{"rendered":"Industry groups concerned about potential regulatory changes under the Biden administration fear that these changes could impede economic growth."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">38<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Findustry-groups-fear-new-biden-regulatory-changes-could-hobble-growth%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2003326&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Business and Industry Groups \u2064Concerned \u2063About Biden Administration&#8217;s Regulatory Changes<\/h2>\n<p>Business and industry groups are\u2062 expressing their concerns over a key \u200cchange made by the Biden administration to federal agency calculations of \u2063regulatory costs. This change, outlined in an \u2064executive order\u2062 issued by President\u2064 Joe\u2062 Biden in April, raises the threshold for what is considered \u200ba &#8220;significant regulatory action&#8221; from a\u2062 $100 million annual\u2064 economic cost to $200 million.<\/p>\n<p>The significance of \u200bthis change\u200d lies in the fact that regulations\u2063 falling into the &#8220;significant&#8221; category are subject to cost-benefit analysis requirements. These requirements can\u200b pose challenges if\u2064 the benefits do not\u2062 outweigh the drawbacks and costs.<\/p>\n<blockquote>\n<p>&#8220;What \u200dthat does in the real world is that \u200bit takes a major chunk \u200dof regulations out of the more rigorous analysis that is applicable to major federal regulations \u2014 you&#8217;re immediately taking a chunk of regulations out of that balancing act,&#8221;<\/p>\n<footer>&#8211; Chris Netram, National Association \u2062of Manufacturers<\/footer>\n<\/blockquote>\n<p>Even under the previous $100 million threshold, the Biden administration\u2063 has already released\u200b numerous &#8220;economically\u2062 significant&#8221; rules. According to an analysis by\u200b the Competitive\u2062 Enterprise Institute, the\u200c administration has\u2063 nearly 300 such\u2062 regulations in the pipeline, averaging 97 per year. This is significantly higher than the \u200cnumbers\u2064 under\u2062 former Presidents Barack Obama and George W. Bush.<\/p>\n<p>Another\u200b change in the White House Office of Management and Budget\u200c guidance\u200b allows for the consideration\u200b of the \u200d&#8221;global effects of the regulation&#8221; when weighing costs \u200cand benefits, not\u200b just the domestic effects.\u200d This change has raised concerns about shifting the regulatory burden to\u200b other countries.<\/p>\n<blockquote>\n<p>&#8220;What you&#8217;re effectively doing is allowing agencies to shift the impacts of the regulatory \u200dburden to other countries&#8230; that seems inconsistent with the role of the federal government.&#8221;<\/p>\n<footer>&#8211; Chris Netram, National Association of Manufacturers<\/footer>\n<\/blockquote>\n<p>The National Federation of Independent Business has also voiced its opposition to some of these changes, stating that considering costs and benefits to non-U.S.\u200d citizens residing outside the U.S. should be limited to\u2064 specific circumstances.<\/p>\n<p>Cost-benefit \u200danalysis has \u2064evolved over time, with President Jimmy Carter first requiring it and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/industry-groups-fear-new-biden-regulatory-changes-could-hobble-growth\/\" title=\"Industry groups concerned about potential regulatory changes under the Biden administration fear that these changes could impede economic growth.\">subsequent presidents making adjustments<\/a>. However, critics argue that the recent changes made by President Biden have shifted the role of the Office\u2063 of Management and Budget from a regulator watchdog to a promoter of regulation.<\/p>\n<p>While there \u200bhave been \u200dpositive legislative developments for the manufacturing sector, such as the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-signs-executive-order-to-mandate-greening-of-federal-vehicles-buildings-by-2050\/\" title=\"Biden Signs Executive Order to Mandate Greening of Federal Vehicles, Buildings by 2050\">bipartisan infrastructure law<\/a>, the industry is \u2064still burdened by\u200b a\u2062 multitude of\u2064 federal\u2063 regulations. The National Association of Manufacturers reports that their members are\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/winston-marshall-says-christian-faith-gave-him-courage-to-leave-mumford-sons-after-woke-mob-attacked-him\/\" title=\"Winston Marshall Says Christian Faith Gave Him Courage to Leave Mumford &#038; Sons After Woke Mob Attacked Him\">spending significant time<\/a> \u2063and resources\u200c to comply with these regulations.<\/p>\n<p>With hopes that Congress will intervene, industry groups\u200d are actively engaging with federal \u2063agencies and the White House\u2063 to express \u200ctheir concerns and advocate for a more balanced approach to \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/48-senators-demand-biden-reverse-proposed-atf-rule-largest-confiscation-scheme-in-american-history\/\" title=\"48 Senators Demand Biden Reverse Proposed ATF Rule: Largest \u2018Confiscation Scheme In American History\u2019\">regulatory analysis<\/a>.<\/p>\n<p>The clock is ticking, as the Office of Management and Budget \u200dis expected to\u2063 issue an updated circular by April of next year.<\/p>\n<p>Overall, the business and industry sectors are united \u200bin their\u200c efforts to address the regulatory burden \u2062and ensure a fair and effective regulatory process.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business and industry groups fear the consequences of a Biden administration change to federal agency calculations of regulatory costs. President Biden&#8217;s executive order in April, which increased the threshold for &#8220;significant regulatory&#8221; classification, has sparked concerns among those advocating for fewer federal regulations.<\/p>\n","protected":false},"author":1,"featured_media":2003327,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-2003326","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2003326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2003326"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2003326\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2003327"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2003326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2003326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2003326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}