Next Tuesday, President Obama delivers his State of the Union address, defining the key contours of the policy and political landscape through this fall.
Over each of the next five days, PPI will be offering up five ideas that we think should be central themes not only in the President's address but also in this year's debates over economic policy. Each of these ideas, in our view, is central to engineering an American economic comeback.
IDEA #1: Scraping regulatory barnacles off the economy—A Regulatory Improvement Commission
A year ago, President Obama ordered agencies to review and repeal outdated and burdensome regulations. He got some results, but not nearly enough.
That's why PPI proposes the creation of a "Regulatory Improvement Commission," an independent, BRAC-style commission that would evaluate and prune existing regulations while still protecting public health, safety, and the environment.
In our policy brief, "Reviving Jobs and Innovation: A Progressive approach to Improving Regulation," we describe how such a Commission could work. Neither Congress nor the executive branch currently has an efficient, streamlined process for eliminating outdated regulations that stifle innovation and growth. The Regulatory Improvement Commission could fill that void.
COMING TOMORROW: Idea No. 2--Starting Start-Ups
President, Progressive Policy Institute