By: George M Wilson & Carol A. Stacey
On February 14, 2017 President Trump signed the law eliminating the resource extraction payment disclosure provisions of the Dodd Frank Act.
GETTING GOVERNMENT OUT OF THE WAY: Today, President Donald J. Trump signed legislation (House Joint Resolution 41) eliminating a costly regulation that threatened to put domestic extraction companies and their employees at an unfair disadvantage.
H.J. Res. 41 blocks a misguided regulation from burdening American extraction companies.
By halting this regulation, the President has removed a costly impediment to American extraction companies helping their workers succeed.
This legislation could save American businesses as much as $600 million annually in regulatory compliance costs and spare them 200,000 hours of paperwork.
The regulation created an unfair advantage for foreign-owned extraction companies.
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