As part of an overall push to address the nation's slow-moving economic recovery, President Barack Obama tapped General Electric CEO Jeffrey Immelt to lead the White House Council on Jobs and Competitiveness.
Earlier this week, Obama said the administration is planning a review of federal regulations and would eliminate rules that slow growth.
The announcement follows criticism from business leaders over an increase in regulations that stem from the passage of last year's healthcare and financial reform laws.
Johanna Schneider, executive director of external relations at the Business Roundtable, told PRWeek in December "there's an unprecedented level of government intrusion in the business sector so the response has been and will continue to be direct CEO involvement with policymakers."
The new council replaces the Economic Recovery Advisory Board that Obama put in place two years ago. Its mission, according to the Obama Administration, is to generate ideas from business that can help speed up the economy's recovery and promote competitiveness for the US.