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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Regulatory Reform in the 118th Congress: Separation of Powers Restoration Act
The separation of powers is a key aspect of American government. To decentralize power and ensure checks and balances, the Founders divided the federal government…
City Journal
Roll It Back
Medicaid, the federal-state entitlement for the poor, now provides health insurance to more than one in four Americans. Enrollments surged after the Affordable Care Act…
Blog
This Week in Ridiculous Regulations
An Executive Order from the Biden administration made some of the biggest system-level regulatory changes in years. It raises the threshold for “economically significant”…
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Markets Rally on Hopes of Regulatory Relief
The stock market has gone up by 280 points so far today, fueled by FASB’s vote to relax rigid mark-to-market accounting rules,…
News Release
Statement on the Progress of the London G20 Summit
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Statement on the Expected Vote to Relax Mark-to-Market, or “Fair Value,” Accounting Mandates
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Obama Follows in Hoover’s Footsteps
During the Great Depression, Herbert Hoover damaged the economy, and impoverished the American people, with costly, artificial attempts to stimulate the economy through…
Blog
Virginia Postrel on Her Own Brush with Cost-Effective Drug Research
One letter writer argues that Herceptin was a poor example because "Multiple cost-effectiveness analyses have shown that, despite its high cost, Herceptin is both effective…
Citation
The five dumbest product bans, 2009 Source: Competitive Enterprise
Staff & Scholars
Clyde Wayne Crews
Fred L. Smith Fellow in Regulatory Studies
- Business and Government
- Consumer Freedom
- Deregulation
Ryan Young
Senior Economist
- 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