President Obama signed an Executive Order this week that will initiate a “government-wide review of the rules already on the books to remove outdated regulations that stifle job creation and make our economy less competitive.” Over at AOL News, Wayne Crews and I explain why this will hardly change a thing. We also offer six suggestions for reducing regulatory burdens with a minimum of political pain.
Here are three of them:
- Appoint an annual bipartisan commission to comb through the books and suggest rules that deserve repeal. Congress would then vote up-or-down on the repeal package without amendment, to avoid behind-the-scenes deal-making.
- Require all new regulations to have built-in five-year sunset provisions. If Congress decides a rule is worth keeping, it can vote to extend it for another five years.
- Consider Sen. Mark Warner’s, D-Va., “one in, one out” proposal, which holds that for every new rule that hits the books, an old one must be repealed.
Read the rest here.