There are two main areas in which Congress can enact meaningful reform. The first is to rein in regulatory guidance documents, which we refer to as “regulatory dark matter,” whereby agencies regulate through Federal Register notices, guidance documents, and other means outside standard rulemaking procedure. The second is to enact a series of reforms to increase agency transparency and accountability of all regulation and guidance. These include annual regulatory report cards for rulemaking agencies and regulatory cost estimates from the Office of Management and Budget for more than just a small subset of rules.
In 2019, President Trump signed two executive orders aimed at stopping the practice of agencies using guidance documents to effectively implement policy without going through the legally required notice and comment process.
Featured Posts
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The week in regulations: Bone void filler and halibut action
May’s job numbers were strong for the third month in a row, though job growth since Liberation Day remains under 100,000, for a labor force…
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Free the Economy podcast: State budgets and bailouts with Thomas Savidge
In this week’s episode we cover promising new classroom technology, increasing productivity (and avoiding layoffs) with AI, and the repeal of the…
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The week in regulations: Onion marketing and refrigerator leaks
PCE inflation, which the Federal Reserve uses for its interest rate decisions, rose to 3.8 percent, nearly double the Fed’s 2.0 percent target. President Trump…
Search Posts
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Bootleggers and Baptists Everywhere
Bruce Yandle’s insight of how erstwhile alliances of “Bootleggers and Baptists” help drive state intervention into economic matters is extremely useful when looking at…
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Private Employers Cut 39,000 Jobs in September
The private sector shed 39,000 jobs in September. Liberal journalists claim this was “unexpected.” This reveals their shaky grasp of economics. If you…
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Morning Media Summary
The following is a roundup of the morning's media. We hope you will make a daily stop at Open Market to read the latest updates.
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If You Like Your Health Plan, You May Lose It Anyway
Another major employer, 3M, has decided to “eventually stop offering its health insurance plan to retirees, citing the federal health overhaul as a factor.”…
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Supreme Court Is Neither Pro-Business Nor Conservative
The Supreme Court is not a particularly conservative court. It rules against businesses more than the lower federal courts do, and its rulings have overturned…
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Fred Smith Featured in Politico’s “Answer This”
Fred Smith was profiled today in Politico‘s “Answer This” column by Patrick Gavin. Here are a few highlights: What’s a common and accepted practice for…
Staff & Scholars
Clyde Wayne Crews
Fred L. Smith Fellow in Regulatory Studies
- Business and Government
- Consumer Freedom
- Deregulation
Ryan Young
Senior Economist and Director of Publications
- Antitrust
- Business and Government
- Regulatory Reform
Fred L. Smith, Jr.
Founder; Chairman Emeritus
- Automobiles and Roads
- Aviation
- Business and Government
Sam Kazman
Counsel Emeritus
- Antitrust
- Automobiles and Roads
- Banking and Finance
Marlo Lewis, Jr.
Senior Fellow
- Climate
- Energy
- Energy and Environment