Over at The Washington Times, Wayne Crews and I praise President Obama’s recent regulatory reforms. They’re small, but they’re better than nothing:
The estimated savings total up to about $10 billion over five years. Cass Sunstein, who heads Mr. Obama’s Office of Information and Regulatory Affairs at the Office of Management and Budget, sees this as a significant achievement. Of course, federal regulations cost more than 500 times that much – more than a trillion dollars annually – so this is a curious use of the word “significant.”
We also lay out some potential next steps:
- Implement a bipartisan, annual Regulatory Reduction Commission to vote up or down on a package of rules to eliminate in one sweep.
- Institute a freeze on federal rule-making in order to rediscover federalism. Many health and safety matters are best left to states.
- Hold hearings on Sen. Mark R. Warner’s “one-in, one-out” requirement for any new rule, which, for some reason, he isn’t talking about much lately but should be.
- Increase exemptions for small businesses, which can least afford regulatory costs.