Behind the Money Less regulation, more problems?
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Jul 24, 2024 Recent Supreme Court decisions are changing rulemaking power, worrying US businesses despite CEOs' preference for less regulation. The impact on businesses, regulatory practices, and compliance costs is discussed. The podcast also explores the future of federal agencies, potential consequences of decreased regulatory power in the US, and insights into the premium spirits market.
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End of Chevron Deference
- The Supreme Court ended Chevron deference, removing decades of federal agency rulemaking power.
- This shifts interpretation authority from agencies to judges, creating uncertainty.
Old Rules Now Challenged
- The Supreme Court ruling allows challenges to old regulations by newcomers affected by them.
- This eliminates previous time limits and can destabilize regulatory certainty.
Agency Resources Stretched Thin
- Agencies spending more time defending rules in court will have fewer resources to conduct their usual functions.
- This causes delays in drug approvals, inspections, and other federal agency operations.