The Business Roundtable (BRT) issued a report this month, Permitting Jobs and Business Investment Streamlining the Federal Permitting Process, highlighting the adverse impacts to business of the often long, inconsistent and burdensome federal permitting process. The CEOs of Business Roundtable believe that it is time to simplify, streamline and accelerate America's permitting process with the goal of encouraging large-scale capital investments in the U.S. economy while maintaining the nation's commitments to health, safety and soundness. With this goal in mind, this report identifies key challenges associated with the existing regulatory permitting system and sets forth a series of recommended reforms.
In its report, the BRT identified three key concerns associated with federally required permits:
- Too Many Burdensome Permits Are Needed
- Processing Permits Results in Delays and Inconsistencies
- Litigation Also Delays Construction Projects
The BRT has developed a set of recommendations to reform the federal permit process making it more efficient for business and less of an adverse economic impact. A summary of the problem and recommended solution is attached.
BRT is an association of chief executive officers of leading U.S. companies with over $6 trillion in annual revenues and more than 14 million employees. Their companies generate an estimated $420 billion in sales for small and medium-sized businesses annually. BRT members comprise nearly a third of the total value of the U.S. stock market and invest more than $150 billion annually in research and development – nearly half of all private U.S. R&D spending. BRT companies pay $163 billion in dividends to shareholders and give nearly $9 billion a year in combined charitable contributions. To learn more about BRT, please visit their website at www.brt.org.