Sunset and eliminate laws
Most laws and regulations should be given a “sunset,” whereby the laws and regulations cease to be laws and regulations as of a specific date absent action by Congress to reinstate them. An ordinary sunset should be ten years. Reason article on Moore’s Law (PDF). An example of where federal regulation needs to be repealed is COBRA coverage. With Obamacare, universal coverage is available. So, there is no longer any need for COBRA with respect to employment termination, etc., and COBRA should be repealed. The HIPAA health care privacy rules are a disaster, as virtually everyone in business can potentially become subject to these rules at some point (often without knowing it). These rules should be repealed, coupled with federal law providing that failure to use reasonable care with respect to an individual’s personal health information is actionable for compensatory damages plus attorneys’ fees. In the retirement plan area, the top heavy rules should be eliminated. Attached is an article I wrote several years ago, setting forth means of simplifying regulation of retirement plans. The Need to Simplify Federal Pension Law and Some Possible Means of Doing it (PDF).