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OpenMarket: May 2019

  • Liberate Local TV Programming from Price Controls

    May 28, 2019
    The Senate Commerce Committee plans to hold a hearing on the state of the media marketplace on June 5 and the debate around reauthorizing The Satellite Television Extension and Localization Act Reauthorization (STELAR) will likely be on the agenda. STELAR is set to expire at the end of this calendar year and Congress should let it.
  • Narrowly Address Fair Lending Requirements to Spare Impact on Small Business

    May 28, 2019
    Section 1071 of the Dodd-Frank Act amended the Equal Credit Opportunity Act to require financial institutions to collect, report, and make public certain information concerning credit applications made by women- and minority-owned small businesses.
  • This Week in Ridiculous Regulations   

    May 27, 2019
    The number of new final regulations this year topped 1,000 last Tuesday, and President Trump and Congress entered Memorial Day weekend at odds on issues ranging from infrastructure to the renegotiated NAFTA/USMCA trade agreement. Meanwhile, rulemaking agencies marked the unofficial start of summer with new regulations ranging from temporary safety zones to potato handling.
  • Climate Issues Decide Australian Election  

    May 24, 2019
    Australian voters stunned the pollsters and the experts in the general election on May 18th by returning the ruling coalition of conservative parties to office. Votes are still being counted and a few House races are still to be decided by a complicated preferential system, but the Liberal and National Parties (LNP) will have a majority with at least 77 and probably 78 seats in the 151-member House of Representatives.  
  • ConEd Expanding Existing Pipeline Capacity Amid Ban on New Construction

    May 24, 2019
    We have previously reported on Consolidated Edison’s recent restrictions on new natural gas hookups in the greater New York metropolitan area as a consequence of insufficient supplies, as well as the highly unhelpful efforts of Gov. Andrew Cuomo (D) to block proposed new pipelines that would bring more supplies into the state. The governor’s objections are largely based on his climate change advocacy, though safety has also been a stated concern.
  • VIDEO: What Is the 'Social Responsibility' of Business?

    May 24, 2019
    Recently I was in the audience for an interesting panel discussion, hosted by the Federalist Society, on corporate social responsibility. Should corporate managers only work to increase profit and shareholder value, the panel considered, or should they also work to benefit a broader group of stakeholders adjacent to the firm?
  • Federal Railroad Administration Withdraws Proposed 'Featherbedding' Train Crew Rule

    May 23, 2019
    Today, the Federal Railroad Administration (FRA) released a draft notice indicating that it will be withdrawing a 2016 proposed rule that would have required trains to have at least two crewmembers onboard at all times during operation.
  • Regulatory Costs of Anti-Property Approaches to Environmental Concerns

    May 23, 2019
    Environmental regulations transfer substantial wealth and can be subject to the same political failure and regulatory pork-barreling that characterize economic regulation—perhaps more so, given the international scale of control sought, and some of the movement’s anti-market roots.  
  • Reform Fair Lending Laws to Uphold Rule of Law

    May 23, 2019
    The CFPB’s new director, Kathleen Kraninger, assured the Senate Banking Committee in her confirmation hearing that she was committed to upholding the rule of law. More than just a buzzword, Director Kraninger has shown her commitment through such actions as asking Congress to clarify the bureau’s authority to supervise for compliance with the Military Lending Act and ending “regulation by enforcement.”
  • Chain Stores Are Part of Civil Society Too

    May 22, 2019
    I recently reviewed the book “Alienated America” by Washington Examiner editor Timothy Carney, and I’d like to return to one of the observations he made in a section titled “Walmart’s America.”

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