Business group ready to face off over regulations

By Aaron Smith, staff writer


NEW YORK (CNNMoney.com) -- The U.S. Chamber of Commerce said Wednesday it was beefing up its arsenal in the face of what it called a "regulatory tsunami of unprecedented force" from the Obama administration.

Chief Executive Thomas Donahue said the group is adding a regulatory economist to its staff and ramping up activism by its legal organizations, the Institute for Legal Reform and the National Chamber Litigation Center.

With these resources, he said the Chamber is taking on the "threat" of "thousands of new and questionable regulatory rulemakings in the pipelines."

"Regulation is the vehicle by which some seek to control our economy, our businesses, and our lives -- and left unchecked, it will fundamentally weaken our nation's capacity to create jobs and opportunity," he said.

He said the added regulations are coming from the health care and financial regulatory reform bills, as well as the Department of Labor, the Environmental Protection Agency, the National Labor Relations Board and other agencies.

"We have never seen anything on this scale before," said Donahue. "It defies all logic and common sense. The Chamber has experts in each of the areas I have mentioned and they are working everyday to stem the tide of this regulatory tsunami."

The White House was not immediately available for comment. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 26,501.60 -157.51 -0.59%
Nasdaq 10,911.59 -274.00 -2.45%
S&P 500 3,269.96 -40.15 -1.21%
Treasuries .86 0.02 2.99%
Data as of 6:17pm ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET
Sponsors

Sections

Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.