Today, the President announced his plan to ask Congress for the authority to reorganize and consolidate the government so we can provide more effective, efficient services to the American people. He wants this authority, which Presidents had until it lapsed in 1984, so that we can modernize our structure to better compete in the global economy and maximize services for the American people. And the first priority would be to strengthen the ways that American businesses – large and small – can work with the government to compete, export, and grow.
There is not a federal agency that can't be better or smarter in accomplishing its mission. That's why this consolidation authority is so critical. Many of the structures in place right now are outmoded and outdated.
More specifically, today the President also announced that he would use such authority to organize all of the business and trade related functions into a new department, including many functions of the Commerce Department.
Currently, there are six major departments and agencies that focus primarily on business and trade in the federal government, including: U.S. Department of Commerce’s core business and trade functions, the Small Business Administration, the Office of the U.S. Trade Representative, the Export-Import Bank, the Overseas Private Investment Corporation, and the Trade and Development Agency.
Consolidating these agencies will create one new Department with one mission: to spur job creation and expand the U.S. economy.