Obama Administration Targets Government Regulations for Reduction

The regulatory review reflects moves by the administration to mend fences with the business community after the acrimonious fights over healthcare and Wall Street reform.

Stack_of_FoldersThe Obama administration laid out plans to review hundreds of regulations that could get streamlined or scrapped in response to criticism from the GOP and business that burdensome rules are holding back the economy.

The 30 agencies and departments with significant rulemaking activity have submitted for public review more than 500 pages of initiatives that could save billions of dollars a year, according to White House regulatory czar Cass Sunstein.

The “look-back” plan comes after President Obama’s Jan. 18 executive order calling for a government-wide review of regulations that are “out-of-date, unnecessary, excessively burdensome, or in conflict with other rules,” according to the White House.

The review, Sunstein said, aims to “change the regulatory culture of Washington” by encouraging a “less polarized” debate “between those who celebrate regulation and those who decry regulation.”

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Source: Julian Pecquet | The Hill