On Tuesday, the Obama administration announced the results of an eight-month government-wide review designed to reduce the regulatory impact on businesses. Every federal department was ordered to put forward a plan to do away with red tape. Now that those plans have been unveiled, the administration has promised an additional round of reviews, a process that White House officials claim is “likely” to save at least $10 billion over five years and create an unspecified number of jobs.
Members of the business community met this effort with the equivalent of an obligatory golf clap, as one applauds a beleaguered player who finally taps in for triple-bogey. “The administration’s findings and determinations, on their own, are a worthy effort at making technical changes to the regulatory process,” Bill Kovacs, a senior vice president at the Chamber of Commerce, said in a statement. “But the results of this lookback will not have a material impact on the real regulatory burden facing businesses today.”
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