As pressure mounts over the lagging economy, President Barack Obama is seeking to quell claims that he is out of touch with businesses by taking a page from the GOP playbook and targeting needless regulations.
The Wall Street Journal reports today that the White House will announce plans to eliminate or scale back hundreds of regulations that cumulatively would save businesses nearly $10 billion over the next five years.
The changes don’t affect new controversial requirements implemented by the Obama administration dealing with greenhouse gas emissions and the financial system — and are mostly a result of technological upgrades and obsolescence to rules on the books for years.
The White House will also review new regulations to be sure they do not place an undue burden on businesses, Cass Sunstein, the administrator of the White House Office of Information and Regulatory Affairs, told the WSJ.
“We are going to implement statutes that have been enacted in the last few years, but we’re trying to do it in a way that is as careful with respect to cost and as attuned with the economic situation as possible,”
Some of the changes (from The Wall Street Journal):
- More efficient screening for low-risk passengers at airports saving about 7.6 minutes per person.
- Requirement for air pollution vapor recovery systems at gas stations will be eliminated because modern cars have the technology included.
- Looser water quality standards for farmers in some areas.
- Streamlined process to apply for small business loans.