Markets Wired

Federal Trade Commission Chairman Jon Leibowitz issued the following statement regarding President Obama’s executive order that independent regulatory agencies release a plan to the public to make sure their regulations are cost-effective and designed to promote economic growth and job creation:

“President Obama deserves enormous credit for ensuring regulatory review throughout the federal government, including at independent agencies. Although regulations are critically important for protecting consumers, they need to be reviewed on a regular basis to ensure that they are up-to-date, effective, and not overly burdensome. For all agencies – independent or not – periodic reviews of your rules is just good government. The announcement raises the profile of this issue, and I think that’s a constructive step.”

The FTC has had a longstanding regulatory review program with bipartisan support on the Commission, and last week announced new efforts to enhance the program and foster more transparency and public participation in the program.

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