Sen. Johnson is Back

Senator Tim Johnson, returned to work yesterday. His return means that the debate over Optional Federal Chartering of insurance will heat up (link goes to an op-ed I wrote on the topic.) Although the bill in question, the National Insurance Act could be nitpicked to death, its general thrust would likely improve the insurance markets around the country. It’s pretty simple to describe: Let insurance companies do what banks have done since the Civil War and subject themselves to federal rather than state regulation while simultaneously getting rid of confusing and unnecessary rate regulatory regimes.