California Representative Darrell Issa (R) has assumed the chairmanship of the House Committee on Oversight and Government Reform, and he wants to cut through the layers of government oversight and foster business growth. Issa’s asked companies and trade associations, including Toyota, Ford, the National Association of Manufacturers and the Association of International Automobile Manufacturers to suggest which regulations make it difficult to turn a profit and, more importantly, add jobs.
The current debate over government regulation is mainly targeting efforts undertaken by the Obama administration, including new fuel economy standards that are phasing in between 2012 and 2016, are singularly expensive to implement and will cost jobs and profits – even as the boost in fuel efficiency to a fleet average of 34.1 mpg by 2016 sets the stage to save $152 billion in fuel, offsetting the nearly $1,000 of extra cost the regulations are expected to add to the price of automobiles.
In seeking the input of automakers and other business groups, Issa is looking for ways to streamline innovation and spur job growth. With its large labor pool and long reach, the automotive industry is both deeply interested and integral to the effort Representative Issa is spearheading.
[Source: The Detroit News]