Regulatory Reform and Deregulation
Federal regulatory agencies exert a hidden tax on American consumers and the U.S. economy. These costs come in various forms: the cost of paperwork filled out by businesses, higher prices at stores, hampered innovation, and sometimes even reduced health and safety. While some regulation is necessary, such as rules to protect against fraud, much of it is both unneeded or counterproductive. Policymakers should work to reduce the overall burden of regulatory government on Americans.
- Make regulatory reform a major priority.
- Further strengthen regulatory review processes.
- Establish the purpose of safety and health agencies as the identification of opportunities to improve safety and health at costs that are much less than the market value of the benefits.