EPA must weigh impacts of regulations, business group says
The Business Roundtable's recommendations to the EPA underscore the need to take action to protect the environment while not harming American jobs and consumers, Tracey writes.
The Business Roundtable (BRT) outlined its priorities in a new report. Although many of the recommendations have been talked about, members of the BRT Roundtable said they hope the new Congress and President Barack Obama will make progress on their agenda, including recommendations for the EPA:
“Ensuring that EPA regulations are based on sound science, undergo thorough net cost-benefit analysis, and take into consideration the net cumulative impact these regulations have on energy costs, economic growth and job creation, while being protective of human health and the environment.”
“Carefully evaluating the timing and cumulative impact of EPA regulations on the electric utility industry and, as appropriate, modifying these regulations to ensure continued reliability, avoid unreasonable rate impacts, and maintain a diverse, market-driven portfolio of baseload electricity generation fuel options.”
The BRT is an association of chief executive officers from many leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. Their companies generate an estimated $420 billion in sales for small and medium-sized businesses annually. BRT members comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development — nearly half of all private U.S. R&D spending.
As talks heat up about who will be nominated to be the next EPA Administrator, the nominee will need to listen to voices like the BRT and take these recommendations into consideration and understand that it’s best to take a common sense action to protect the environment while not harming American jobs and consumers.
As we’ve said before, the next head of the EPA needs to fully analyze and understand the full, cumulative economic impacts of its regulations. American jobs are at stake, as well as access to affordable, reliable electricity that is a pillar to our economic recovery.
BRT companies pay $163 billion in dividends to shareholders and give nearly $9 billion a year in combined charitable contributions.