Industry groups decry federal government’s growing reach

His remarks during an event hosted by the Chamber of Commerce followed the release of a Bloomberg Government study finding that companies increasingly include government actions among the list of risk factors they are required to report to the Securities and Exchange Commission.

The industry group officials argued that the phenomenon would likely increase as federal agencies work to implement rafts of new rules in accordance with the Affordable Care Act, the Dodd-Frank financial reform law and a host of forthcoming environmental regulations.

“I think the level of risk that our companies see has been exacerbated, said Chester “Chip” Davis Jr., executive vice president for advocacy at PhRMA

Palmieri singled out the medical device manufacturing industry, which is saddled with a new excise tax, among other new costs contained in the healthcare law.

“It’s going to be awful for them,” he said of the companies. “But how awful is an open question.”

Kyle Isakower, vice president of regulatory and economic policy at the American Petroleum Institute, said the group’s member companies have added thousands of new jobs, despite the onslaught of new regulations.

But proposed environmental rules could endanger the growth, Isakower said. He said ten separate agencies are considering increased regulations and oversight of hydraulic fracturing, a drilling method that has resulted in a U.S. oil and gas production boom but has also raised fears of water and air pollution.

“Uncertainty is always going to stifle investment — every time,” he said.