The CEO of a large industrial company recently described the Trump administration as “the most pro-business since the Founding Fathers.” It’s a popular perception in the business community, with or without the hyperbole, and the stock market is reacting accordingly. While some might be enthused by the potential for corporate tax reform or a (promised) $1 trillion infrastructure investment plan, it’s more likely they’re referring to the historic rollback of regulations in the works across many sectors, from fossil fuels to mining, guns, and finance. It’s taken as an article of faith that this is good for business. But slashing our health, environmental, and societal protections is only “pro-business” in the narrowest of terms, and only in the short run.
Rolling Back Fuel Efficiency Is a Bad Deal for Everyone — Including U.S. Carmakers
Slashing regulations that protect health and the environment could backfire in the long run.
March 17, 2017
Summary.
CEOs seem increasingly excited about the prospect of regulations being rolled back under President Trump. But while it’s taken as an article of faith that this is good for business, slashing our health, environmental, and societal protections could backfire in the long run. Consider going back on fuel efficiency standards. Not only will it make U.S. carmakers less competitive with foreign competitors, but it also ignores the many businesses and people who rely on a cleaner planet for survival. After all, people living in places that are regularly flooded may not be buying a lot of cars — or a lot of anything.