White House Plans Broad Review Of Regulation

(NewsCore) - The White House is contemplating a broad review of government regulations that business leaders have identified as obstacles to job-creating private investments, the Wall Street Journal reported Sunday.

The Obama Administration is looking for new ways to spur job growth now that it appears less likely Congress will agree to spend significant new sums on government stimulus programs.

Business leaders have called on the White House to streamline the nation's regulatory framework, and warned that a flurry of new rules, and uncertainty about pending regulations, have discouraged investment and hiring.

New financial markets rules included in an overhaul now moving through Congress would not be on the table, an administration official said. President Barack Obama has made the financial overhaul a priority, and it remains popular, despite criticism in banking circles.

"The president has said that he is interested and open to the business community's perspectives on examining regulations, but a lot of important equities need to be weighed against each other, such as the health and safety of the American people -- and no one interest outweighs another," said White House chief of staff Rahm Emanuel.

Read more: Wall Street Journal

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