ACCF Salon: Improving the Regulatory System

Senator James Lankford (R-OK)

On Wednesday, April 26 the ACCF hosted an Economic Policy Salon on “Improving the Regulatory System.” Washington leaders from the energy, manufacturing, financial and retail sectors joined members of Congress and leading journalists for a robust, off-the-record discussion on potential ways to reshape the federal regulatory state to make it more efficient and less burdensome to businesses without diminishing public health and safety benefits.

Sens. James Lankford (R-Okla.) and Mike Rounds (R-S.D.) were featured speakers at the event. John Graham, the former administrator of the Office of Information and Regulatory Affairs (OIRA) under President George W. Bush and the current Dean of Indiana University’s School of Public and Environmental Affairs, was also featured at the Wednesday night event. Graham recently published a paper on the cost of overregulation on small businesses and coauthored a related opinion piece with Sen. Lankford.

Among the ideas discussed for making the regulatory process more effective and efficient were the possibility of creating a regulatory review commission, requiring proposed rules to undergo a full cost-benefit analysis and additional review for all major regulations, and addressing the U.S. Supreme Court’s Chevron deference decision.

Wednesday’s dinner was one of the several events the ACCF has put on promoting efforts to improve the federal regulatory process.

The ACCF has been a leader in the debate over economic and regulatory policy for more than three decades. Wednesday night was the organization’s 224th policy salon, a Washington tradition that promotes a bipartisan approach to economic policies by bringing together members of Congress, business leaders, academics, and senior members of the media.