CEI Today: Furlough select federal workers, Dodd-Frank lawsuit progresses, REINS Act attacks regulation, and more
UNION "OFFICIAL TIME" - MATT PATTERSON & TREY KOVACS
As politicians of both parties ride through the country Paul Revere-like in their warning about the dire consequences of the looming automatic spending cuts coming with sequestration, a lot of Americans are worried that essential government services will see a dangerous reduction in their operating resources.
Yet there is a way to cut substantial amounts of federal spending that will have zero effect on public services. Simply get rid of federal employees who do no work for the federal government.
Yes, such creatures exist, thanks to a bizarre provision in federal labor law called “official time,” which allows a unionized federal worker to work for his union while on his taxpayer-funded duty.
DODD-FRANK LAWSUIT - SAM KAZMAN
This week, the state and private plaintiffs in a lawsuit challenging the constitutionality of the Dodd-Frank Act, filed a legal response to the government. "Rather than address the constitutional validity of this law, the federal government has, through its motion to dismiss, chosen to attack the standing of 11 states, two nonprofit groups, and one small but courageous community bank in Texas, as well as the ripeness of their claims," said CEI General Counsel Sam Kazman, in a statement.
"Dodd-Frank’s institutionalization of the “too big to fail” syndrome through its illegally-constituted Financial Stability Oversight Council; its provisions for split-second liquidations with practically no protection for creditors and practically no judicial review; and the unaccountable nature of its Consumer Financial Protection Bureau. And Dodd-Frank continues to have a devastating impact on the economy."
REINS Act Introduced in Senate
This week, Sen. Rand Paul introduced the Senate version of the Regulations from the Executive in Need of Scrutiny (REINS) Act. Rep. Todd Young (IN-9) introduced the House version in January with 121 co-sponsors.
Experts at the Competitive Enterprise Institute applauded the bill for the much-needed reforms it would bring to the federal rulemaking process. Vice President for Policy Wayne Crews said REINS would “address rampant over-delegation of legislative power, restore Congressional accountability and drive agencies to ensure their rules meet plausible cost-benefit standards relative to one another, which are entirely lacking today."