Court Rulings on Dodd-Frank Could Help the US Economy in 2013
It’s no secret that I think the Dodd-Frank Act is not a good piece of legislation. The act is an overreaction to the 2008 financial crisis, and its 848 pages will balloon the size of government through time, meaning businesses and consumers will pay more taxes and fees.
There is some good news though. Lawyer Eugene Scalia, son of Supreme Court Justice Antonin Scalia, has successfully argued on several occasions that federal regulators have not justified or fully considered the economic impact of these new rules.
While these efforts deal with details and specific rules, they do have the effect of slowing down the implementation of Dodd-Frank. The administrative agencies are already running behind on congressionally mandated deadlines. These delays and the unwinding of onerous provisions in this massive legislation could prove helpful to the economy in 2013 and beyond.
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