Agenda for Federal Regulatory Reform

Federal regulation has grown dramatically in recent decades, whether considered absolutely, as a relative share of the U.S. economy, or as a relative share of the output of the federal government.The authors of this primer believe that the current approach to federal regulation urgently needs repair. Not only are current expenditures mandated by regulation large, but a substantial share of those expenditures is ineffective. As a result, more intelligent policies could achieve the same social goals at much less cost or more ambitious goals at the same cost.This primer identifies six critical problems with regulation and offers eight concrete recommendations for regulatory reform. We offer this agenda for reform in hopes of engaging legislators and policymakers interested in constructive action.