Tags: Barack Obama | Consumer Product Safety Commission | Federal Trade Commission | Securities and Exchange Commission

Obama Launches Effort to Shred Red Tape

Tuesday, 12 Jul 2011 01:07 PM

President Barack Obama is now calling on independent government regulatory agencies to join in efforts to eliminate red tape. Obama issued an executive order calling on such agencies as the Consumer Barack Obama, Consumer Product Safety Commission, Federal Trade Commission, Securities and Exchange CommissionProduct Safety Commission, the Federal Trade Commission and the Securities and Exchange Commission to join in government efforts to cut paperwork and business regulations that harm economic growth, The Washington Post reports.

Because the agencies are independent, the president cannot order them to comply like other parts of the executive branch, which launched the paperwork and regulation review in January. The non-binding order asked the agencies to report results within 120 days to the Office of Management and Budget, the Post reported.

Cass Sunstein, administrator of the office of Information and Regulatory Affairs, said, “With full respect for the independence of the independent agencies . . . the President has asked for their collaboration in the creation of a 21st-century regulatory system, using state-of-the art tools and smart approaches to protect public welfare while promoting economic growth and job creation,” the Post reported.

As a result of the program, “millions of hours of paperwork have been eliminated and millions of dollars have been saved,” he said according to the Post.

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