In a recent move, the National Association of Manufacturers (NAM) has expressed support for President Trump's Executive Order 14219 by submitting policy proposals aimed at revising numerous regulations that they argue are hindering growth and job creation in the manufacturing sector. The NAM's recommendations to federal agencies highlight outdated regulations that increase costs and reduce competitiveness.
"Rebalancing regulations is a critical pillar of our comprehensive manufacturing strategy—which also includes making the 2017 tax reforms permanent, expediting permitting reform to unleash American energy, strengthening the manufacturing workforce and implementing commonsense trade policies," said NAM President and CEO Jay Timmons. He further emphasized that manufacturers spend $350 billion annually on compliance with federal regulations, funds that could otherwise be used for expansion and employment.
The NAM has identified 44 regulations across ten agencies for potential revision or rescission under Executive Order 14219. This order mandates a review of existing regulations to identify those with significant costs outweighing their benefits or impeding innovation and economic development.
The NAM's submission targets several agencies including the Environmental Protection Agency (EPA), Securities and Exchange Commission (SEC), Department of Energy, and others. The organization aims to work with the administration to amend rules that are costly or ineffective.
Background information provided by the NAM notes that EO 14219 requires federal agencies to review their regulations within 60 days to identify those imposing undue costs or exceeding statutory authority.
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