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DEPARTMENT OF THE TREASURY William L. Walton, Stephen Moore,

and David R. Burton

INTRODUCTION

The U.S. Treasury Department has a broad regulatory and policy reach. The next Administration should make major policy changes to: (1) reduce regulatory impediments to economic growth that reduce living standards and endanger prosperity; (2) reduce regulatory compliance costs that increase prices and cost jobs; (3) promote fiscal responsibility; (4) promote the international competitiveness of U.S. businesses; and (5) better respect the American people’s due process and privacy rights.

These goals should be accomplished through: executive action (primarily treasury orders and treasury directives) and departmental reorganization; rulemakings; promoting constructive policies in Congress; actions in international organizations; and treaties.

The primary subject matter focus of the incoming Administration’s Treasury Department should be:

• = Tax policy and tax administration; • Fiscal responsibility; • Improved financial regulation;

• Addressing the economic and financial aspects of the geopolitical threat posed by China and other hostile countries;