Wayne Crews has ably documented the regulatory state for twenty-five years and running. But what will the next twenty-five years of “10,000 Commandments” look like? From here, the future looks precarious, but there is reason to be hopeful about reducing Washington’s regulatory bootprint on consumer choice and the economy. With persistence, good ideas, and a little luck, the 2043 edition Ten Thousand Commandments will be much sunnier than this year’s.
Federal regulation cost Americans $1.9 trillion in 2017, or nearly $15,000 per U.S. household—more than Americans spend on any category in their family budget except for housing. While the Trump administration has made noteworthy progress toward reining in the expansion of new rules, more substantial reform will need to come from Congress in order to significantly reduce this breathtaking government burden.
The highlights from this week’s round of 36 proposed regulations and 72 final regulations range from licensing government inventions to the Department of Redundancy Department’s new rule for fishing in the “Bering Sea subarea of the Bering Sea”.
It may not feel like Spring yet, but regulatory agencies have turned their fancies to rulemaking, with 45 proposed and 70 final regulations ranging from the size of oranges to yellow lances.
With a full quarter of 2018 in the books, agencies have issued just one economically significant rule—an increase in State Department fees amounting to $115 million this year, barely meeting the $100 million threshold for economic significance. Even so, agencies in the last week issued new regulations ranging from Chilean cherimoyas to migratory birds.
Today’s jobs numbers shattered expectations—313,000 new jobs in February against an expectation of 200,000. The numbers provide yet more support to the argument that supply side measures such as tax cuts and deregulation are working. Unfortunately, several questions remain as to whether this can continue.
For the State of the Union 2018, CEI presents a round-up of what Trump might say, what he should say, and how members of both parties can work together to accomplish something valuable for the American people.
Rollbacks of federal regulation are a main element of the Trump administration’s economic recipe and deserve credit. It’s highly likely that the loosening of red tape will be highlighted in the State of the Union speech.
Instead, there have been recent letters inquiring if a particular guidance document counted as a “rules” and thus should have been submitted.
Let’s step back a bit.