There has been much discussion, including in the pages of this magazine, about the dynamics in Washington, D.C., with the 114th Congress being under the control of Republicans. Talks about compromises regarding tax reform, fixes to the Affordable Care Act and energy policy permeate discussions among insiders and talking heads. While I think all of these are worthy of action and attention from Congress, I would like to add an additional topic to the potpourri of policy: regulatory reform.
Quite simply, I believe our regulatory system, above all else in Washington, is broken. It is broken for a variety of reasons, but it is irreparable. First, let’s diagnose the problems.