Our ‘Capitalist,’ ‘Not Anticorporation’ President in Action

From the SEC to the EPA, Biden’s administration has launched an onslaught of stifling regulations.

By Allysia Finley. Excerpts:

"Mr. Biden then called for a 25% tax on billionaires’ income, including their unrealized asset appreciation, endorsed a bill empowering the Federal Trade Commission to dun corporations for “shrinkflation,” and exalted United Auto Workers President Shawn Fain, who last year declared corporate greed America’s biggest enemy."

"The National Oceanic and Atmospheric Administration has proposed an ultralow speed limit for recreational boats off the Atlantic Coast to protect the North Atlantic right whale."

"a soon-to-be-finalized Food and Drug Administration rule that would require the agency to approve tens of thousands of diagnostic tests. Some 97% of clinical labs say they couldn’t afford to pay the FDA fees, which run as high as $483,000 for a single test submission."

"Japanese chemical manufacturer Denka, which operates the only neoprene factory in the U.S. The Environmental Protection Agency has invoked emergency powers under the Clean Air Act in a lawsuit seeking to shut down the company’s plant in LaPlace, La."

"its emissions have dropped by 85% since 2014 and cancer rates in the surrounding St. John the Baptist Parish, La., are among the bottom 25% in the state. The EPA’s evidence for its emergency? Twenty-five-year-old studies on female mice."

"the Securities and Exchange Commission on Wednesday finalized an 886-page climate disclosure rule that would open up public companies to scads of class-action lawsuits."

"Top research universities have lambasted the Commerce Department’s plan to expropriate patents for technologies that aren’t “reasonably priced.” The Federal Reserve’s proposed 1,087-page bank capital rule has drawn criticism from public pension funds and affordable housing groups."