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
Blog
The week in regulations: Marine terminal fires and marijuana rescheduling
The Federal Reserve held interest rates steady, and outgoing Chairman Jerome Powell will remain on the Fed’s Board of Governors when Kevin Warsh takes over.
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Free the Economy podcast: The business of Federalism with Derek Kreifels
In this week’s episode we cover childcare in the 50 states, how to fix rising healthcare costs, the new Institute for…
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The week in regulations: Pipeline safety and NFL Draft security
Federal Reserve Chair nominee Kevin Warsh had his confirmation hearing, and President Trump dropped his criminal investigation into Jerome Powell. The government is poised to…
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Davis-Bacon from the Pork Barrel
In today’s Wall Street Journal, the Brookings Institution’s Clifford Winston points out some critical pitfalls likely to face the infrastructure spending element of President-elect…
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Jail Time for Conflict of Interest?
David Bruggeman at Prometheus has what I think can only be described as an extreme view of conflict of interest: An Emory University Researcher…
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Madoff: Hiding in Plain Sight, Thanks to SEC
Contrary to popular belief, Madoff's $50 billion Ponzi scheme was subject to to a variety of financial regulations, something he actually used as a selling…
Letters
Letter To President Obama on Credit Unions and Business Lending
Full Document Available in PDF December 23, 2008 The Honorable Barack Obama President-Elect…
Blog
Fewer Toys for Christmas
Small toy manufacturers may go out of business thanks to the “Consumer Product Safety Act of 2008,” which Congress hastily passed in response to…
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The 2008 Year in Poker
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