by Daniel Wortel-London
A chapter in the U.S. Code entitled “Statements to accompany significant regulatory actions” contains a critical directive. It declares that any notice of proposed rulemaking by a federal agency that may result in expenditures of $100,000,000 or more must be accompanied by an estimate of that rule’s effect on economic growth.
Take out your editor’s pen. Imagine amending this code by replacing “economic growth” with “economic stability.” How might this simple change transform the purpose and operation of federal laws?