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.
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Free the Economy podcast: Affording the American Dream with Akash Chougule
In this week’s episode we cover what’s making housing so expensive, the common good of the Constitution, and more jawboning…
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The week in regulations: Mailing live animals and crash test dummy comments
A Trump administration envoy to Russia called Vladimir Putin a humanitarian. The Justice Department announced it will sue if the Republican Senate candidate in…
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Free the Economy podcast: The Grim Old Days with Chelsea Follett
In this week’s episode we cover global energy security, a new lawsuit against Section 338 tariffs, and fresh talent in…
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The Private Provision of Surface Transportation Infrastructure in the United States
Private sector involvement in surface transportation infrastructure is not new. Public and private turnpikes—roads that require the payment of a toll for passage—have existed for…
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Financial Reform
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Mark-to-Market Accounting Rules
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For Profit, Not-for-Profit and Government – The Metric Problem
Americans tend to forget the value of institutional specialization. A private for-profit firm has a straightforward metric – maximizing shareholder profit-a complex goal, requiring managers…
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Trojan Horse Financial “Reform” Bill Enriches Goldman Sachs, Rips Off Taxpayers
The Obama administration and Congressional leaders are pushing a trojan-horse financial “reform” bill that would enrich the wealthy and powerful investment bank Goldman Sachs, which…
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Big Labor Pension Strategy: United States of Argentina?
Service Employees International Union (SEIU) President Andrew Stern made a big splash last week, when he announced his retirement from leading what is arguably America’s…
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