As the Treasury Department’s Financial Crimes Enforcement Network has found, certain virtual currency businesses are money service businesses. Typically such money service businesses engage in money transmission and as a result must acquire a money transmitter license in each state in which they do business.
There are two important unintended consequences of raising the federal contractor minimum wage: first, it can adversely affect the most vulnerable workers; and second, the rule as currently stated could be enforced in a manner so that its impact would extend to far more businesses than originally intended.
Constitutional rules, unlike statutory or internal rules, are difficult to change. If written to cover the entire budget, avoid loopholes, and make waivers difficult to obtain, Constitutional rules can provide the enforcement mechanism that will help ensure that specific reforms to entitlements, defense, and other spending areas will not be undone by future Congresses.
From time to time the FCC must reexamine the justifications for its rules. In light of the many industry changes since these rules were promulgated, the FCC should repeal these rules and others. The FCC cannot fix all of the regulatory distortions in the video marketplace, but repealing network nonduplication and syndicated exclusivity rules is an excellent first step.
As the Federal Reserve celebrates one hundred years, reform efforts are timely. Consideration of fundamental questions about the Federal Reserve’s role in the regulatory landscape and in the markets should accompany those efforts.
This public interest comment estimates the range of annual benefits (costs avoided) associated with e-cigarette use as $15.6 billion to $49.2 billion and that 2.4 million to 6.4 million smokers may potentially become ex-smokers by using e-cigarettes. Estimates are based on a range of quit rates from the current literature and assume all smokers interested in quitting use e-cigarettes. Even a fraction of estimated benefits (costs saved) are substantial. These estimates indicate the FDA is jeopardizing public health by not estimating benefits associated with e-cigarettes using data from readily available studies on their efficacy as harm-reduction tools.
The Bank has long outlived its purpose and cannot manage to meet the standards of the new missions that have been developed to validate its existence. For policymakers who have the facts, the choice is clear: the Export-Import Bank must go.
A full six years after the start of the Great Recession, the young today continue to face one of the worst labor markets of any generation. Not only is unemployment and underemployment a real problem, but our current very low rate of youth labor force participation may mean that millions of youth never become fully active in the labor market.
Notwithstanding the DACA recommendations for a reconstituted communications competition agency, Congress should also consider alternatives such as abolishing the FCC entirely and relying on antitrust agencies or merging the FCC’s responsibilities with the Federal Trade Commission.
Social Security faces real financial challenges. Dismissing the real and current fiscal challenges facing the Social Security system and kicking the “reform can” further down the road will only increase the severity of the burden associated with reforms when they inevitably must take place.
One of the President’s major regulatory oversight offices is the Office of Information and Regulatory Affairs. Agencies can take a “cooperate with OIRA” approach or an “avoid OIRA” approach when they pursue new regulatory initiatives. Understanding agency avoidance tactics is an important step in deciding whether and how to shift agency incentives away from avoidance and toward cooperation.
This program will: provide an introduction to net neutrality and briefly explain the history of the debate, lay out the arguments for and against net neutrality, and discuss mechanisms to ensure the Internet remains a vibrantly free conduit and tool for ideas, innovation and economic growth.