The United States used to be the trailblazer in regulatory reform. But the rest of the rich world has caught up. This Progress Report and Scorecard from the Renewing America initiative outlines the current state of federal regulation in the United States and charts ways the U.S. regulatory management system could be improved.
Two months from now, the U.S. Congress may shutter a government agency that, in the past six years, has supported more than 1.3 million American jobs and generated more than $2 billion in deficit-reducing profits.
The number of U.S. regulations—which affect nearly every aspect of Americans’ lives, from the food and medicine they consume to the quality of the air they breathe and how they save for retirement—has consistently been on the rise. As a result, U.S. businesses are increasingly burdened, but not competitively disadvantaged, because their peers in other advanced countries tend to face even more regulations, according to a new progress report and scorecard from the Council on Foreign Relations’ Renewing America initiative.
Peter Orszag wants regulators to watch out for excessive consolidation in local hospital markets as Medicare's shift to value-based payments puts pressure on health care providers to merge and raise fees for private insurers.
Unlike other economic powerhouses, the United States does little to help its own companies win business abroad, and that timidity has allowed China to devour market share in emerging economies. It is time for Washington to shed its hang-ups about lobbying on behalf of American firms and start taking commercial diplomacy seriously.
Most lawmakers agree corporate tax reform is an important step in improving U.S. global economic competitiveness, but a debate over rate levels and whether to tax foreign profits of multinationals remains unresolved.
John B. Bellinger III discusses the upcoming Supreme Court hearing of arguments in Kiobel v. Royal Dutch Petroleum, which will decide whether corporations may be sued in U.S. courts for violations of international law under the Alien Tort Statute.
As the White House releases the 2013 budget, corporate taxation could be an issue where Congress can find compromise in fiscal policy. Both parties agree the current corporate tax regime is inefficient and often disadvantages U.S. businesses globally.
This report focuses on the global issues relating to tax rate differentials between the United States and other countries. It provides tax rate comparisons; discusses policy implications, including the effect of a corporate rate cut on revenue, output, and national welfare; and discusses the outlook for and consequences of a revenue neutral corporate tax reform.
Sebastian Mallaby argues that investment banks are rife with potential conflicts that harm customers. The solution is to break banks into functional units, so that merger experts, marketmakers and proprietary traders no longer cohabit.
U.S. Ambassador to the OECD Karen Kornbluh presented these remarks, "U.S. Leadership: Better Protection, Lighter Touch," to the OECD's Committee on Consumer Policy, on July 10, 2010. She explained the consumer protection toolkit, which was created to guide government policies to address unfair practices in the marketplace.
Sebastian Mallaby says that the SEC's case against Goldman Sachs looks flimsy so far. If Goldman has become a poster child for excessive power on Wall Street, the SEC might become a poster child for government power run amok.