Flip the Script: Dodging Regulatory Red Tape: A Manufacturing Blueprint
Association proposes regulatory adjustment plan to Trump government for industrial sector reform
Let's dive into the world of manufacturing, where innovative minds are cutting through an ocean of bureaucracy.
In a bid to slash costs and level the playing field, the National Association of Manufacturers (NAM) has dropped a wish list of sorts on the Trump administration - a collection of federal regulations that are weighing down U.S. manufacturers.
The NAM states that these dense regulations are a whopping $350 billion annual burden. How's that for a heavy lift?
The group supports over 13 million American workers who churn out the goodness and gadgets we all love. And they're making a plea to Trump's de-regulatory initiative, which aims to nip burdensome regulations in the bud.
The ten-headed regulatory Hydra they're targeting includes agencies such as the Environmental Protection Agency, the Department of Energy, and the Department of Labor.
After sending letters chock-full of suggestions to the heads of those agencies, Fox News Digital got its mitts on a copy.
The NAM recommends changes to policies on topics as diverse as U.S. liquefied natural gas exports, offshore oil and gas leasing, and environmental protection.
Their ultimate goal? A comprehensive manufacturing strategy that includes making the 2017 tax reforms permanent and expediting permitting reform to tap America's energy reserves.
In a nutshell, they're all about cutting red tape, busting regulations, and opening the door wide for innovation. As NAM President Jay Timmons puts it, "When manufacturing wins, America wins. Rebalancing regulations is a critical pillar of our comprehensive manufacturing strategy."
But that's not all. The NAM has also thrown their hat in the ring for strategies like collaborating with the Department of Justice's Anticompetitive Regulations Task Force, streamlining compliance processes, and adopting technology to offset compliance costs.
They're taking a two-pronged approach: engaging proactively with federal deregulatory efforts while driving internal operational reforms to lessen the existing compliance burden.
So, buckle up and get ready for a roller coaster ride as we watch the regulations dance to a different tune in the days (and months) to come. And remember, when manufacturing flourishes, so does America!
- To expedite progress for American manufacturers, the National Association of Manufacturers (NAM) has presented a list of burdensome federal regulations to the Trump administration, totaling a significant $350 billion annual cost.
- The NAM, an organization supporting 13 million American workers in the manufacturing industry, is advocating for their recommendations on diverse topics like U.S. liquefied natural gas exports, offshore oil and gas leasing, and environmental protection.
- In line with Trump's de-regulatory initiative, the NAM urges changes to policies that will make the 2017 tax reforms permanent and expedite permitting reform to tap America's energy reserves, thereby boosting industry resilience.
- Apart from collaborating with the Department of Justice's Anticompetitive Regulations Task Force, the NAM is also suggesting streamlined compliance processes and adopting technology to offset compliance costs.
- Anna, or anyone else following the news, should buckle up for a roller coaster ride as the regulatory landscape changes in upcoming days and months, in a bid to cut red tape and open opportunities for innovation in the manufacturing sector.
- As NAM President Jay Timmons states, "When manufacturing wins, America wins. Rebalancing regulations is a critical pillar of our comprehensive manufacturing strategy."
