Pahlka on ‘Kludgeocracy.’ Bad behavior at the FDIC.
Pahlka on ‘Kludgeocracy.’ Bad behavior at the FDIC.

Regulation Digest
November 15, 2023
Vol. 12, No. 46
Editor: Nate Thompson
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Marketplace of Ideas

GW Regulatory Studies
- Comparing the Draft and Final Circular A4, Mark Febrizio, Sarah Hay & Zhoudan (Zoey) Xie
- Structural Challenges Loom for Biden’s EO on Artificial Intelligence, Aram Gavoor
AEI
- A Bipartisan Tool to Improve America’s Fiscal Future, Rob Portman
American Prospect
- Gina Raimondo Is Undercutting Bidenomics, Henry Burke
BPC
- Event: AI and the Workforce: An International Economic Outlook, 11/16
Brookings Institution
- Video: AI Safety Beyond the UK Summit, A Conversation with Secretary Michelle Donelan
Cato Institute
- What Might Good AI Policy Look Like?, Jennifer Huddleston
Ctr for Growth & Opportunity

- The Political Economy of the CHIPS and Science Act, Will Rinehart & Aubrey Kirchhoff
CPR
- Federal-State Conflicts Over Environmental Justice, Uma Outka
CEI
- White House Report Reveals Tens of Billions in New Annual Regulatory Costs, Clyde Wayne Crews
ERIF
- Webinar: Unleashing Europe's Potential Dynamism, 12/01
Federalist Society
- Video: Should The Chevron Doctrine Stand?, Mark Chenoweth & Ronald M. Levin
- Video: The Administrative State: Its Supporters and Its Discontents, Steven Bradbury et al.
Free State Foundation
- Refreshing the Record on Net Neutrality, Daniel A. Lyons
GAO
- Reporting on Border Security Metrics Could Be Improved
HBR
- Let Corporate Purpose Guide You Through ESG Turbulence, Robert G. Eccles et al.
Heritage Foundation
- Taxpayers Are Subsidizing Rich EV Owners, EJ Antoni
- The IRA: A Year In Review, Preston Brashers
IBM Ctr for the Business of Govt
- Cybersecurity Considerations for Public Service, Dan Chenok
ITIF
- Should Congress Regulate Streaming? No., Joe Kane
Manhattan Institute
- Widespread Chronic Drug Shortages Demand Congressional Action, Randall Lutter
Mercatus Center
- Car Crashes Are a Public Health Crisis, and Autonomous Vehicles May Be the Cure, Jordan McGillis
NBER
- Do Water Audits Work?, Jesper Akesson et al.
- Who Invests in Crypto?, Darren Aiello et al.
Niskanen Center
- Mandate that Law Enforcement Officials Submit U Visa Certifications Directly to USCIS, Claire Holba
Pew Trusts
- State Policies Can Expand Access to Buprenorphine for Opioid Use Disorder, Jane Koppelman et al.
R Street
- Podcast: Regulation and Innovation, Adam Thierer
Reason
- Did Chuck Schumer Just Come Out Against AI Licensing?, Ronald Bailey
RFF
- Leveraging the IRA to Achieve 80x30 in the US Electricity Sector, Maya Domeshek et al.
- Reducing Agricultural GHG Emissions through Markets and Credit Trading, Emily Joiner et al.
The Regulatory Review
- Intermediaries in the Drug-Price War, Carson Turner
SSRN
- Will Strict Airspace Regulation Deter Consumers’ Choice of Drone Logistics?, Baozhuang Niu et al.
- GDPR: Five Years After and the Future of Data Privacy Protection, Alex Wodi
Tech Policy Institute
- Video: Implications of USTR’s Changing Position on Digital Free Trade
Urban Institute
- Report on Federal Expenditures on Children through 2022 and Future Projections, Cary Lou et al.
Washington Legal Fdn.
- After EPA’s Rule Revision, CWA § 401 Remains Potent State Tool Against Infrastructure Projects, Jim Wedeking
- EPA Prepares the Way for California's In-Use Locomotive Regulation, Steven G. Bradbury
Yale JREG
- More on Sign Stealing and Antitrust, Daniel A. Crane
American Action Forum
- Primer: Training AI Models with Copyrighted Work, Joshua Levine & John Belton
- Updated CRA Tracker, Dan Bosch & Dan Goldbeck 

Agency Rulemaking Highlights


Notable Actions

Revised OMB Circulars A-4 and A-94
The Office of Management and Budget (OMB) issued the revised Circular A-4, which provides guidance to federal agencies on the development of regulatory analysis. The revised Circular supersedes and rescinds the previous version of Circular A-4 issued in 2003. OMB also published “OMB Circular No. A-4: Explanation and Response to Public Input” that provides more detail regarding the revisions to Circular A-4.

OMB also issued the revised Circular A-94, which provides guidance on benefit-cost analysis and cost-effectiveness analysis of federal spending. This revision supersedes and rescinds the original Circular A-94 issued in 1992. 
Disposal of Coal Ash
The Environmental Protection Agency (EPA) has made available new information and data pertaining to its May 18, 2023 proposed rule on the Disposal of Coal Combustion Residuals from Electric Utilities and Legacy Surface Impoundments. EPA seeks public comment on this additional data. Comments due December 11.
Fair Hiring in Banking
The Federal Deposit Insurance Corporation is proposing to revise its regulations to conform with the Fair Hiring in Banking Act which was enacted December 2022. Among other provisions, the act excluded categories of otherwise-covered offenses from the scope of statutory prohibitions on participation in banking. Comments due January 16, 2024.
Junk Fees
The Federal Trade Commission is proposing to prohibit unfair or deceptive practices relating to “junk fees” for goods or services, misrepresenting the total costs of goods and services by omitting mandatory fees from advertised prices, and misrepresenting the nature and purpose of fees. Comments due January 8, 2024.
Recognition and Deferral of Section 987 Gain or Loss
The Internal Revenue Service (IRS) is reopening the comment period for proposed regulations published on December 8, 2016 regarding the determination and recognition of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit. Comments due February 12, 2024.
Income and Currency Gain or Loss
IRS is proposing a rule relating to the determination of taxable income or loss and foreign currency gain or loss with respect to a qualified business unit. These proposed regulations include an election to treat all items of a qualified business unit as marked items, an election to recognize all foreign currency gain or loss with respect to a qualified business unit on an annual basis, and a new transition rule. Comments due February 12, 2024.
Medicare Program Changes and Rate Update
The Centers for Medicare & Medicaid Services (CMS) issued a final rule establishing routine updates to the Medicare home health payment rates for 2024 in accordance with existing statutory and regulatory requirements. This rule implements home health payment-related changes; rebases and revises the home health market basket and revises the labor-related share; and implements the new items and services payment for the home intravenous immune globulin benefit. Effective January 1, 2024.
CMS is also proposing to revise the Medicare Advantage, Medicare Prescription Drug Benefit , Medicare cost plan, and Programs of All-Inclusive Care for the Elderly regulations to implement changes related to Star Ratings, marketing and communications, agent compensation, health equity, dual eligible special needs plans, utilization management, network adequacy, and other programmatic areas. Comments due January 5, 2024.
The Opinion Section
Jennifer Pahlka: What Causes Such Maddening Bottlenecks in Government? ‘Kludgeocracy.’
Washington Post Editorial Board: Regulating Crypto Might End it. And That’s Just Fine.
WSJ Editorial Board: Biden’s Race Against a Cure | The FCC’s New Racial Broadband Rule
Ilya Somin: Supreme Court Adopts Ethics Code
Burçin Ünel & Jennifer Danis: It’s Past Time for FERC to Assess if the US Needs More Gas Infrastructure
Michael R. Strain: The Jobless AI Future is Still a Long Way Off
Joshua Garcia: The CFPB Wants to Regulate Crypto
Gina McCarthy: Methane from Landfills is Another Climate Emergency. Here’s How to Fix it.
Neale Mahoney & Michael Sinkinson: America’s Undeniable Competition Problem Requires a Regulatory Fix
Al Sharpton: Biden’s ‘Internet for All’ Squeezes Small Bidders and Boosts Private Equity
Arthur Levitt: America’s Universities Need Serious Regulation
David Bray: Navigating the Future of Work, Sensemaking, and Co-Existence
In the News
Governance & Politics
Financial Markets & Housing
Energy & Environment
Business and Technology
Artificial Intelligence 
Health & Safety
Transportation & Infrastructure
The George Washington University

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