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But business is not asking the executive branch to roll back anything. These are new environmental regulations, and they are discretionary; the EPA itself acknowledges that no court or statute requires the agency to issue them.

It was argued that conflict over the debt limit posed great financial risk and uncertainty, which hindered the job creation that Congress and the president are so committed to supporting.

The nation avoided a default disaster, but a new jobs and economic crisis looms in the EPA’s ozone regulations - a crisis that will be indisputably manufactured in Washington. This is real uncertainty that scares away investment, depresses hiring and lowers growth estimates.

Thankfully, the president has it within his power to prevent this harm and regulatory overkill by instructing his EPA to practice the restraint our nation demands during such economic difficulties: Tell the EPA to pull back its discretionary ozone rule.

With jobs and economic growth at stake, now is no time for the most expensive environmental regulation in America’s history.

John Engler, former Republican governor of Michigan, is president of Business Roundtable.