(LA Times) — The Republicans’ big election gains will make the new Congress more business-friendly, with incoming leaders in the GOP-controlled House pledging less government involvement in the private sector and more scrutiny of new regulations. President Obama also appeared to get the message, promising Wednesday to change his approach on business issues after his party took what he called a “shellacking” by voters. He signaled he was ready to compromise on a temporary extension of the Bush-era tax cuts — a major concern for many businesses. And he acknowledged that he had not found “the right balance” between increasing regulation to protect consumers and setting “the right tone publicly” to encourage businesses to expand.
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