Executive Briefings

Government Regulations Seriously Impacting U.S. Manufacturing Output, Industry Report Says

Regulations on U.S. manufacturing may reduce output by as much as $500bn this year, according to an industry-sponsored study that cast doubts on President Barack Obama's efforts to trim red tape in the federal government.

The Obama administration has established an average of 72 regulations on manufacturers annually, an increase from the 45 per year imposed under President George W. Bush, according to the study, commissioned by the Manufacturers Alliance for Productivity and Innovation, based in Arlington, Virginia.

"It is imperative that the pace of new regulations be controlled and the cumulative burden of existing regulations be reduced," said the study, conducted by NERA Economic Consulting.

With job creation a central theme in the U.S. presidential race, the health of manufacturing companies is of importance to both Obama and Republican challenger Mitt Romney. Industry groups including the U.S. Chamber of Commerce and National Association of Manufacturers have said federal regulations hinder economic growth.

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The Obama administration has established an average of 72 regulations on manufacturers annually, an increase from the 45 per year imposed under President George W. Bush, according to the study, commissioned by the Manufacturers Alliance for Productivity and Innovation, based in Arlington, Virginia.

"It is imperative that the pace of new regulations be controlled and the cumulative burden of existing regulations be reduced," said the study, conducted by NERA Economic Consulting.

With job creation a central theme in the U.S. presidential race, the health of manufacturing companies is of importance to both Obama and Republican challenger Mitt Romney. Industry groups including the U.S. Chamber of Commerce and National Association of Manufacturers have said federal regulations hinder economic growth.

Read Full Article