"If manufacturing is to make a significant contribution to economic recovery, including the creation and maintenance of well-paying jobs, it is imperative that we have an accurate understanding of the impact of proposed regulations on industry. The full regulatory burden for a particular sector can only be known if the cumulative impact of overlapping regulations is identified."In particular, Walls indicated that industry felt “the lack of cumulative impact assessments is a fundamental shortcoming in the way government agencies develop and evaluate proposed rules.” According to the ACC press release, Walls offered four recommendations to improve the economic analysis of proposed rules:
- Conduct cumulative impact assessments to identify the full regulatory burden being created by a proposed rule.
- Track the sectors affected by new regulations so the most heavily regulated sectors can be easily identified and regulations can be streamlined appropriately.
- Seek input from the businesses that will be affected before developing rules in order to better understand the effects that a potential rule may have.
- Conduct a more comprehensive analysis of the impact of a proposed rule on jobs that considers the type and quality of jobs being affected.