The Administration of President Barack Obama has announced plans to scale back some of the many regulations that exist for American businesses, The Washington Times reported.
Though the President sought a response from the business community and his opponents across the aisle, there was a lack of enthusiasm concerning the announcement due to the Administration’s history with the notion of regulation, according to the newspaper.
“Today the White House announced the outcome of its government wide review, and the results are underwhelming,” House Majority Leader Eric Cantor said. “Speeches and editorials are not enough to help real job creators in America — small-business owners — create middle-class jobs.”
The current plan that was released by Obama included up to 500 changes that are aimed at saving businesses money. Though there are specific things like consolidation of Internal Revenue Service paperwork, simplifying hazard warnings and expediting payments to government contractors, there is a sense of doubt that remained among his opponents, The Los Angeles Times reported.
Obama released the new proposal after ordering a top-to-bottom review of the regulations in January, according to the newspaper.