Senseless regulations have long restricted the growth of American businesses, and experts have estimated these regulations cost the American tax payer up to $2 trillion each year. Despite media focus on other issues, the Trump Administration has made great progress in removing these suffocating regulations.
Federal agencies often produce mandates without data to support their requirements, which results in stifling regulations that do nothing to serve the industries they are meant to help. For example, the head of the Association of American Railroads notes that trains are required to have two person crews, despite no data showing this reduces human-error accidents.
It is precisely these sorts of regulations that restrict growth of American business. The recent trend in favor of outcome-based regulations, which would provide a goal to industries and allow them to determine the best way to accomplishing said goal, is an indicator that American regulatory standards are on track to promote prosperity and growth in the future. Steve Forbes brings up these issues in his latest blog for Fox News, and he discusses the role outcome based performance standards are the superior path towards prosperous America.
The Revamping American Infrastructure Act of 2017, which is currently before Congress, would explicitly require a transition from prescriptive to outcome based regulations wherever possible.
President Trump was in Cincinnati this week where he highlighted the state of our nation’s infrastructure and his plan to devote $1 trillion toward infrastructure revitalization. The President called for bipartisan support, urging both sides of the aisle to assist in what he called “the great rebuilding of America.”
Investment in infrastructure development is an issue that has broad bipartisan support. GAIN spokesman Craig Stevens noted in an interview recently with Ohio radio host Scott Sloan that there is no reason that party politics should get in the way of an infrastructure plan that would put thousands of Americans to work and bring our country’s airports, roads, pipelines, and more up to date to compete and work in the 21st century economy.
President Trump’s plan would allocate $200 billion in federal funding over the next ten years, and expects to attract private investments to bring the total to $1 trillion. Trump’s visit to Ohio shows the importance of directing federal dollars to areas that will help revitalize the American economy and help move our country forward as we seek ways to re-start our manufacturing and construction sectors and bring more jobs back home.
Infrastructure improvements, coupled with smart reforms of the regulatory sector, can help support the American worker and consumer. President Trump stated that, “the federal government will drastically reduce burdensome regulations,” which have long restrained the growth and improvement of American infrastructure.
The GAIN coalition supports the President’s plan to streamline permit approval and reduce regulatory burdens, as we seek to attract private infrastructure investments and support public projects.
Washington, D.C. – President Trump is expected to visit the Cincinnati area tomorrow to discuss the need for a major investment in our nation’s infrastructure. This is part of his effort to promote $1 trillion in public and private infrastructure development. The members of the GAIN Coalition (Grow America’s Infrastructure Now) applaud the President’s vision to make America stronger by investing in upgrading our nation’s infrastructure.
“We applaud President Trump’s vision to encourage investment in our nation’s infrastructure that will enhance our country’s productivity, create thousands of jobs, and unleash the potential of the American economy. Today in Ohio there are thousands of people working on energy, telecom, water, and highway infrastructure projects – this should just be the start,” said GAIN Coalition spokesman Craig Stevens. “There are hundreds of projects in Ohio and across the country in dire need of upgrades or replacements. Successful large scale infrastructure projects are the result of private and public financing and a regulatory system that provides certainty to those individuals and companies that are willing to risk their capital. We look forward to working with President Trump and others to support his $1 Trillion infrastructure investment goal.”
About GAIN: Grow America’s Infrastructure Now is a diverse coalition of businesses, trade associations, and labor groups that share a vested interest in creating jobs and strengthening our nation’s economy through infrastructure development.