Should You Hold Your Breath for Deregulation?
If you've been delaying actions hoping for the next big anti-regulatory move from the White House, you might want to just stop holding your breath.
In a recent report by CNBC, it explains that 90 percent of the Trump administration's deregulatory actions have been struck down in court. It is then suggested that the administration needs to do their homework before taking deregulatory action. And while you might want to delay your spending to come into compliance with regs that might be on the chopping block, that 90 percent loss rate should give you pause.
Rewriting the Deregulation Myth
As seen with last year's travel ban, the courts basically shut down each version of it until the administration had basically jumped through every hoop that the courts said were necessary before such extreme action could be taken. The same seems to be happening, but to a lesser extent, with the deregulatory efforts.
Notably, as industry experts explain, deregulation isn't good for people, and it's not even necessarily good for business. While it might cost a business more to comply with certain regulations, often, that cost will be in the form of employing new team members to handle that compliance, or even hiring new businesses that emerge to help with the regulatory work, which was likely designed by lawmakers for the public's benefit.
Redoing Failed Homework
As we noted last year, although the Trump administration's track record of following the rules for removing the rules is not good, many of those defects, such as failing to provide opportunity for public comment, are curable ones. This means that, like the travel ban, it shouldn't be wholly unexpected that for at least some of the failed deregulation attempts, the administration tries again.
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