BATON ROUGE, LA (January 30, 2017) – Today, the Louisiana Association of Business and Industry (LABI) issued the following statement regarding President Donald Trump’s executive order to dramatically reduce federal regulations.
This executive order would require for every new regulation an agency puts forward that two be identified to be eliminated. This order also sets a $0 budget for new regulations in 2017 and places a cap on the cost of any new regulations going forward.
This executive order seeks to standardize the implementation and management of the regulatory process. It will reverse a regulatory system that has been steadily growing out of control in recent years. As the official state chapter for the U.S. Chamber of Commerce and the National Association of Manufacturers, LABI is in full support of this order. It will undoubtedly advance the American free enterprise system by limiting government intrusion in the marketplace.
Stephen Waguespack, President and CEO of the Louisiana Association of Business and Industry stated, “This type of action is long overdue. The simple fact is that employers on a daily basis face stringent regulations and mandates from Washington D.C. that severely hinder their ability to compete in the market. This new policy will hopefully begin to bring some sanity back to federal agencies and lead to a less onerous environment for Louisiana job creators.”
Waguespack continued to say, “Less bureaucracy tying the hands of employers will be beneficial for all levels of the workforce. This is the first step to moving our economy forward.”
Renee Amar, LABI Director of Small Business added in a statement, “We fully understand the purpose regulations serve in the process, however, over the past eight years these regulations have not only been well beyond overly burdensome but have been costly to companies of all sizes, especially small businesses.”
For press inquiries, contact:
About the Louisiana Association of Business and Industry
The Louisiana Association of Business and Industry was organized in 1975 to represent Louisiana businesses, serving as both the state chamber of commerce and state manufacturers association. LABI’s primary goal is to foster a climate for economic growth by championing the principles of the free enterprise system and representing the general interest of the business community through active involvement in the political, legislative, judicial and regulatory processes. Find out more information at www.labi.org.