In the flurry of President Joe Biden's executive orders was one that was almost entirely overlooked but could easily end up having the biggest impact.
The order also seems harmless enough, going by the seemingly innocent title "Modernizing Regulatory Review." Except this order isn't about modernizing regulations.
Biden's order - which didn't get released to the press until late in the evening of his first day - aims to effectively toss the cost-benefit analysis that for many decades has served as at least a modest brake on the ambitions of regulators.
Clyde Wayne Crews, a regulation expert at the Competitive Enterprise Institute, said that Biden's order is "Likely to do away with cost-benefit analysis by elevating unquantifiable aims as benefits and deny costs of regulation altogether." In doing so, it will "Put weight on the scales of whether or not to regulate such that the answer will always be in the affirmative."
The leftist Huffington Post cheered the news, calling Biden's order "Game changing" and saying "The memo could unleash a wave of stronger regulations to reduce income inequality, fight climate change and protect public health. Among left-leaning experts on regulation, it's a signal that Biden could break with 40 years of conservative policy."
Biden took other actions to re-regulate the economy, including issuing an order revoking various policies President Donald Trump put in place, such as the order that regulators eliminate two regulations for every new one enacted.
With this one executive order, Biden shows that he's intent on giving regulators carte blanch to impose massive new rules on businesses and households, on virtually anything and everything they do, regardless of costs.
https://issuesinsights.com/2021/01/29/bidens-worst-executive-order-went-almost-entirely-unnoticed/
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