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Legislation And Comment: The Making Of The § 199a Regulations, Shu-Yi Oei, Leigh Osofsky
Legislation And Comment: The Making Of The § 199a Regulations, Shu-Yi Oei, Leigh Osofsky
Faculty Scholarship
In 2017, Congress passed major tax legislation at warp speed. After enactment, it fell to the Treasury Department to write regulations clarifying and implementing the new law. To assure democratic legitimacy in making regulations, administrative law provides that an agency must issue a notice of proposed rulemaking, followed by an opportunity for the public to comment (so-called “notice and comment”). But, after the 2017 tax overhaul, many sophisticated actors did not wait until the issuance of a notice of proposed rulemaking to comment, instead going to the Treasury Department immediately with comments designed to influence the regulations.
In this Article, …
Democratic Rulemaking, John M. De Figueiredo, Edward H. Stiglitz
Democratic Rulemaking, John M. De Figueiredo, Edward H. Stiglitz
Faculty Scholarship
This paper examines to what extent agency rulemaking is democratic. It reviews theories of administrative rulemaking in light of two normative benchmarks: a “democratic” benchmark based on voter preferences, and a “republican” benchmark based on the preferences of elected representatives. It then evaluates how the empirical evidence lines up in light of these two approaches. The paper concludes with a discussion of avenues for future research.
The Volcker Rule: A Brief Political History, Kimberly D. Krawiec, Guangya Liu
The Volcker Rule: A Brief Political History, Kimberly D. Krawiec, Guangya Liu
Faculty Scholarship
Today, more than five years after Dodd-Frank was first signed into law, uncertainty surrounds many aspects of the Volcker Rule’s application and ultimate impact on financial markets and bank stability. Many more years will likely pass before that uncertainty is resolved. We demonstrate through a quantitative and qualitative analysis that these difficulties were presaged by the Volcker Rule’s political history. The Volcker Rule -- originally rejected by Congressional lawmakers and economists within the Obama administration as unworkable -- arose as a political concession designed to quiet critics who contended that Dodd-Frank did not do enough to control risky bank activity. …
Book Review, Administrative Law, Lawrence G. Baxter
Book Review, Administrative Law, Lawrence G. Baxter
Faculty Scholarship
No abstract provided.
Busfare Increases And Administrative Irregularities, Lawrence G. Baxter
Busfare Increases And Administrative Irregularities, Lawrence G. Baxter
Faculty Scholarship
No abstract provided.
Fairness And Natural Justice In English And South African Law, Lawrence G. Baxter
Fairness And Natural Justice In English And South African Law, Lawrence G. Baxter
Faculty Scholarship
No abstract provided.