The development of communication networks along with the rapidly expanding use of smartphones has resulted in unexpected innovations, revolutionizing taxicab and transportation services. Two new firms, Uber and Lyft, offer a particularly novel transportation service by providing car-share and taxi services via cell phone applications and GPS.
A lame duck session of Congress occurs when legislators meet after an election has been held but before the next Congress has taken office. Lame duck sessions are often criticized by the victorious party in the election, and a common critique is that the lame duck members—undisciplined by electoral constraints—vote irresponsibly. There are subtle but statistically significant differences between voting patterns in regular and lame duck sessions, as revealed by analysis of over 50,000 House and Senate roll call votes.
RegData 2.0 offers three simple and replicable measures of regulation, each created with custom-made text analysis software run on the annual Code of Federal Regulations. This sector brief presents these statistics for five different federal regulatory agencies that are relevant to the railroad industry: Federal Motor Carriers Safety Administration, Federal Railroad Administration, Mine Safety and Health Administration, Occupational Safety and Health Administration, and Pipelines and Hazardous Material Safety Administration.
State and local governments often turn to increases in sales taxes to generate added revenue. Estimates of fresh revenue from the higher tax tend to be overly optimistic, partly because the number of sales tax exemptions tends to rise with the rising tax rate.
The recent decline in federal deficits should not create a false sense that the national debt is no longer a clear and present threat. While this improvement may be encouraging, it represents only a temporary respite from the government’s growing fiscal imbalances.
Instead, policymakers should focus on more direct, effective, and less problematic solutions to reduce the tangle of regulatory burdens encountered by craft brewers. Eliminating regulatory burdens for all firms would allow brewers to succeed or fail on the basis of their ability to provide the greatest value to consumers at the lowest cost to society.
Removing the federal tax deduction for state and local taxes would make taxes more equitable throughout the nation, as both high-tax and low-tax states are treated equally by the federal government. It may also provide an efficiency boost for states and localities, as they abandon some services that could be better provided by private companies. The removal of this deduction would also allow federal marginal tax rates to be cut across the board, providing a secondary boost to the economy while still remaining revenue-neutral at the federal level.
We apply the methodology of RegData—which quantifies regulations using text analysis of the Code of Federal Regulations (CFR)—to objectively determine the number of new restrictions the Dodd-Frank Act has created and will create. We estimate that Dodd-Frank will increase financial industry regulatory restrictions by 32 percent once all of its rulemakings are finalized, yielding more new restrictions than were created between 1997 and 2010.
In recent years, food stamps have constituted about 80 percent of farm bill spending, which may be why nearly 100 percent of public debate has focused there. Unfortunately, with all of the attention on food stamps, both political parties have missed the opportunity for reform that lies in the remaining 20 percent of the farm bill.
The F.A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics at the Mercatus Center invites you to a panel discussion featuring Todd Zywicki and his new co-authored book Consumer Credit and the American Economy.