Regulatory Action Center Review - February 26, 2021

Welcome to the Regulatory Action Center (RAC) Review! RAC proudly keeps you up to date on what we’re up to, and what we’re keeping our eyes on here in the swamp. We offer resources for you to get involved in the rulemaking process to hold unelected bureaucrats accountable and occasionally offer praise in the event they have a good impulse. We will also highlight the incredible work our activists have done to advance the principles of smaller government, lower taxes, free markets, personal liberty, and the rule of law. For more ways to get involved and stay informed, check the links at the bottom of this post.

RACtivists by the Numbers

Last year, RACtivists submitted 33,437 comments on 12 regulatory dockets. They accounted for over 70 percent of the total comments submitted on three of those dockets.

Four Things to Know

1) United States has Officially Rejoined the Paris Climate Agreement

Last week, the Department of State and the United Nations announced that the United State has officially rejoined the Paris Climate Agreement. President Biden made rejoining the agreement a symbolic pillar of his climate agenda, directing the Secretary of State to resign the treaty on his first day in office. America was only withdrawn from the agreement for a mere 107 days.

More resources on this:

Read more from FreedomWorks on the Paris Climate Agreement: HERE

Read FreedomWorks statement on this: HERE

2) California’s Net Neutrality Rule to Take Effect

After a fiercely contested legal battle, California’s “net neutrality” law will take effect following the refusal of a federal district court judge to grant the plaintiffs a preliminary injunction. The law, passed in 2018 as a reaction to the Restoring Internet Freedom order, has been consistently criticized as more stringent than the FCC’s original net neutrality rules. If it were to take effect, California’s law would effectively become the law of the land.

More resources on this:

Read more about the court case: HERE

Read the text of the California law: HERE

Read FreedomWorks Foundation’s issue brief on net neutrality: HERE

3) Federal Regulators to Probe Texas Energy Crisis

Following a week of crisis in Texas after the energy grid collapsed under the strain of a severe winter storm, federal regulators are turning a critical, investigative eye to the state’s grid and the Energy Reliability Council of Texas (ERCOT). Although the Federal Energy Regulatory Commission’s control over the Texas grid is limited due to its isolation, Chairman Richard Glick has reportedly expressed interest in new federal requirements. Beyond the state legislature, which held hearings on the crisis just yesterday, House Speaker Nancy Pelosi has also expressed interest in investigating ERCOT and the Public Utility Commission.

More resources on this:

Read more about the Texas Energy Crisis: HERE

Read more about ERCOT and Texas’ independent grid: HERE

4) FinCEN to Require Disclosure of Cryptocurrency Transactions

In a continuation of a midnight ruling before President Biden took office, FinCEN has determined to continue moving forward with new regulations on cryptocurrency transactions. Intended to combat illicit financing, the new rules would require banks and other money service providers to disclose the identity of the wallet owner on both sides of any transaction over $10,000. We highlighted the original version of this rule back in January, and FreedomWorks Foundation has continued to strongly oppose the extension.

More resources on this:

Read the rule in the Federal Register: HERE

Read FreedomWorks Foundation’s comment opposing this rule: HERE

Take action on this through the RAC: HERE

RAC Resources

You can always find all RAC content (blogs, updates, press releases, and comment campaigns) HERE.

You can always sign up to become an elite RACtivist, if you haven’t already, HERE.