Tag: Deregulation

Plunder at Love Field

 

The road to deregulation is often marred by unanticipated pitfalls. Yet such is the case in a saga over airline deregulation in the Dallas-Fort Worth market. The story begins over forty years ago, and its final chapter is now being played out in the courts. In 1978, Congress decided to abolish a hoary New Deal agency, the Civil Aeronautics Board, which was created by the Civil Aeronautics Act (1938) to determine routes and to set prices for airline passenger traffic throughout the United States. But the New Deal law’s price setting powers were quickly used by airlines to suppress competition among themselves, so that interstate fares were consistently higher for short hauls than intrastate fares were for longer ones.

The deregulation movement of the late 1970s had its intended consequence of hastening competition among airlines. But it also created a backlash in one market, Dallas-Fort Worth, located in the backyard of then-Speaker of the House Jim Wright. Wright feared that vigorous competition to the new Dallas/Fort Worth airport (DFW) would come from the Love Field airport, the home of the upstart Southwest Airlines, which was now poised for the first time to expand operations into the interstate market. Wright thought that flights from Love Field would reduce the air traffic at DFW, which in turn would reduce the revenues needed to fund the debt service on DFW bonds. So in 1979, he induced Congress to pass the Wright Amendment, which perversely restricted all flights out of Love Field outside of Texas and four contiguous states—Arkansas, Louisiana, New Mexico, and Oklahoma—to aircraft that had 56 or fewer seats.

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Stopping the Administrative State

 

When the DOJ and Jeff Sessions rolled back 25 “guidance documents” last Tuesday, I was especially encouraged that we may finally be taking back governance and stopping the administrative state from acting like lawmakers. At first I was simply pleased that the “guidelines” from the Obama Administration on affirmative action were being removed. Then I realized that this action was part of a complex but powerful strategy of putting governance in the hands of the President and Congress; other steps have also been taken to tell bureaucrats that they are responsible for enacting legislation, not making it.

The larger strategy has been evident since President Trump took office. For example, the work that Scott Pruitt has been doing and that will be continued by Andrew Wheeler has been remarkable. At least 76 environmental rules are in the process of being eliminated, according to the New York Times. As of this past December, Trump’s plan to eliminate regulations at a 2:1 ratio has been exceeded and is continuing, according to the White House:

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The state of the US economy in two words: “getting better.” That’s the learned opinion of John Taylor, the Hoover Institution’s George P. Shultz Senior Fellow in Economics and the Mary and Robert Raymond Professor of Economics at Stanford University. He forecasts continued growth thanks to the latest round of tax cuts and regulatory reform […]

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What’s Been the Economic Impact of Trump’s Deregulation Push?

 

“Pro-growth” economic policy is about more than just tax reform. Smart deregulation also has the potential to boost growth. Indeed, the Trump administration is counting on deregulation as a key lever for turning a 2% economy into a 3% (or higher) economy. In a report last October, the White House’s Council of Economic Advisers declared that “deregulation will stimulate US GDP growth” and favorably cites research finding that “excessive regulation” suppressed US growth by an average of 0.8% per year since 1980.

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Welcome to the Harvard Lunch Club Political Podcast for January 3, 2018 – O.M.G. it’s 2018! It is the Crimson Crystal Ball edition of the show with your hosts fortune-teller Todd Feinburg and Swami Mike Stopa. We will peer into the future, part the enveloping mists of chaos and tell you what you can expect […]

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The Power Behind Deregulation

 

Remember when Trump promised to cut back regulations to 1960s levels? Well, Neomi Rao, the new Administrator of the Office of Information and Regulatory Affairs, may not be able to make that dramatic a change, but she is making a big dent in the regulatory state and she is a long way from finished.

Rao isn’t afraid to show her pluck when it comes to getting things done. George Mason University wanted to change the name of its law school to honor Antonin Scalia, and liberals were up in arms about it. They were especially unhappy that the Charles Koch Foundation was making a $10 million donation to the school. Yet Rao won the support of Justice Ruth Bader Ginsberg for the name change; Justice Ginsberg had been a longtime friend of Justice Scalia and said the name change was “altogether fitting.”

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Taking a Look at the State of Trump’s Deregulation Efforts

 

When the Trump White House talks about boosting economic growth, it’s not all tax cuts, tax cuts, tax cuts. Officials also mention the administration’s ongoing deregulatory push as a big part of why Trumponomics will turn a Two Percent Economy into a Three Percent or Four Percent Economy. President Trump himself has cited deregulation as one of his biggest accomplishments so far.

But a new analysis by Bloomberg gives reason for skepticism, at least if you define “deregulation” as actually, you know, removing regulations currently in effect. Not much of that seems to be happening yet. “Only a handful of regulations have actually been taken off the books,” Bloomberg finds.

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In this AEI Events Podcast, AEI’s Jeffrey Eisenach hosts Federal Communications Commission (FCC) Chairman Ajit Pai for a discussion on the chairman’s first 100 days and his vision for the future of US communications policy. Chairman Pai emphasizes the need to close the digital divide, modernize rules, eliminate unnecessary regulatory burdens, promote entrepreneurship and innovation, […]

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Conservatives hailed Hillary Clinton’s defeat as the reversal of the Obama legacy. Former President Obama (saying “former” in that context never gets old, does it?), stifled by conservatives in the House of Representatives, was unable to enact his agenda legislatively. Instead, Obama opted to act through executive orders (EOs). Liberals despaired and Republicans celebrated as […]

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I hope no one needs a drug approved by the FDA, a grazing permit from the BLM or a private letter ruling from the IRS. Because the Executive Order on Reducing Regulation and Controlling Regulatory Costs will prevent this until the agencies can find two offsetting regulations to rescind. You see, the Order defines a “regulation or […]

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Alright politicos, please translate this into hard consequences. President Trump immediately signed executive orders regarding enactment of Obamacare. But are these orders mostly symbolic? What are the actual effects?  More

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A few questions, only loosely related: Do we still rely on Middle Eastern nations to produce oil and natural gas? The US now has access to plenty without them. Also, the region has been in turmoil for years and yet I’m paying less than $2 per gallon, so even their impact on the world market doesn’t […]

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Should Republicans Be Focusing Way More on Deregulation Than Tax Cuts?

 

Republicans are sort of boxed in when it comes to taxes. For three decades, tax cuts have been the party’s core issue, and a winning one at that. It helped give the party two two-term presidents and control of Congress after decades in the minority. But today (a) the top rate is 40%, not 70% as it was in 1980; (b) more than 40% of Americans pay no income taxes; (c) federal debt, as a share of GDP, has more than doubled since 2007; (d) a tsunami of entitlement spending is coming; and (e) the American public doubts the pro-growth impact of high-end tax cuts.

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