Episode 889: Eliminating Regulatory Burdens

Newt's World

Gingrich 360

News, Politics

4.7 • 6.3K Ratings

🗓️ 10 September 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Newt talks with Patrick McLaughlin, a research fellow at the Hoover Institution, where he leads the QuantGov analytics project focusing on regulations. McLaughlin discusses the growth of regulatory requirements from 400,000 restrictive terms in 1970 to 1.1 million today, highlighting the economic friction and opportunity costs associated with regulatory accumulation. He estimates that if regulations had been held constant since 1980, the U.S. economy could be 25% larger by 2012, equating to a $4 trillion increase. They also discuss the impact of the Supreme Court's decision to end Chevron deference, which previously allowed agencies to interpret statutes with significant discretion. Their conversation concludes with an examination of Virginia Governor Glenn Youngkin's successful regulatory reforms, which include a 25% reduction in regulatory inventory and the use of AI for cost-benefit analysis, setting a new standard for regulatory management.

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Transcript

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0:00.0	This is an IHeart podcast.
0:09.0	On this episode of Neut's World, shortly after taking office in 2022,
0:14.0	Virginia Governor Glenn Yunkin issued an executive order,
0:18.0	setting the ambitious goal of cutting regulatory requirements by 25%
0:23.0	by the end of his term. As of this month, his administration's hit the target in Virginia's
0:28.9	office of regulatory management and testifies cutting nearly 33% by the end of his term. And what's
0:36.0	the return on the investment? So far, it's saving Virginia
0:38.8	businesses and citizens more than $1,200 million a year. Virginia is showing the federal
0:45.7	government the substantial regulatory reform can be accomplished. Here to talk about how Washington
0:51.5	needs to act in regulatory reform, I'm really pleased to welcome my guest, Patrick McLaughlin.
0:57.3	He is a research fellow at the Hoover Institution,
0:59.8	where he leads the Quant Government Analytics Project
1:02.8	with a focus on regulations and the regulatory process. Patrick, welcome, and thank you for joining me in Newtsworld.
1:21.0	It's my pleasure to be here. Thanks.
1:22.8	First of all, to introduce our listeners to the Hoover Institution itself. Tell us a little bit about it.
1:28.4	The Hoover Institution, been around for quite a while, was founded at Stanford University
1:32.9	in the first half of the 20th century with a focus at the time on peace, the post-devastation
1:39.9	of the First World War, but expanded into a lot of other areas, economics being one of them.
1:46.0	I am an economist by training, and so I've been brought in there to work on research related
1:51.1	to the economics of regulation and deregulation, but Hoover Institution goes a lot of different
1:56.7	directions.
1:57.3	It's a large shop, and it's generally concerned with the overlap of public policy
	...

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