Independent Agencies

Over the past several years, President Trump’s assault on governing norms, from his refusal to reveal information about his finances to his glee in firing those who are not sufficiently loyal to him, has sparked public outcry. One set of norm violations, however, has received relatively little attention from the media or from Senate Democrats.

Over the past several years, President Trump’s assault on governing norms, from his refusal to reveal information about his finances to his glee in firing those who are not sufficiently loyal to him, has sparked public outcry. One set of norm violations, however, has received relatively little attention from the media or from Senate Democrats. Quietly, Trump and Mitch McConnell have undermined independent agencies’ functionality by slow-walking nominations. And, in particular, they have undermined the norm of statutorily-mandated political balance on many independent agency boards in a move that could keep regulatory power in Republican hands for years after Trump leaves office.

Over the past several years, President Trump’s assault on governing norms, from his refusal to reveal information about his finances to his glee in firing those who are not sufficiently loyal to him, has sparked public outcry. One set of norm violations, however, has received relatively little attention from the media or from Senate Democrats. Quietly, Trump and Mitch McConnell have undermined independent agencies’ functionality by slow-walking nominations. And, in particular, they have undermined the norm of statutorily-mandated political balance on many independent agency boards in a move that could keep regulatory power in Republican hands for years after Trump leaves office.

Over the past several years, President Trump’s assault on governing norms, from his refusal to reveal information about his finances to his glee in firing those who are not sufficiently loyal to him, has sparked public outcry. One set of norm violations, however, has received relatively little attention from the media or from Senate Democrats. Quietly, Trump and Mitch McConnell have undermined independent agencies’ functionality by slow-walking nominations. And, in particular, they have undermined the norm of statutorily-mandated political balance on many independent agency boards in a move that could keep regulatory power in Republican hands for years after Trump leaves office.

Over the past several years, Trump has repeatedly nominated, and McConnell has confirmed, unpaired Republican nominees to independent agency boards, creating persistent imbalances across the regulatory apparatus.

Over the past several years, President Trump’s assault on governing norms, from his refusal to reveal information about his finances to his glee in firing those who are not sufficiently loyal to him, has sparked public outcry. One set of norm violations, however, has received relatively little attention from the media or from Senate Democrats. Quietly, Trump and Mitch McConnell have undermined independent agencies’ functionality by slow-walking nominations. And, in particular, they have undermined the norm of statutorily-mandated political balance on many independent agency boards in a move that could keep regulatory power in Republican hands for years after Trump leaves office.

The Agency Spotlight is a unique tool which tracks appointments to agency leadership positions through the confirmation process and beyond. In order to elevate this tool we release monthly summaries of topline statistics that capture the state of the independent federal agencies.

The Small Business Administration’s Office of Advocacy (“Advocacy”) is a little known corner of the executive branch that wields a surprising amount of power, particularly in the regulatory process. This research memo explores the powers Advocacy possesses, how the office gained this power, and the potential Advocacy may have in a progressive administration to be a strong anti-consolidation voice in the regulatory process.

This crisis has shattered any illusions that our post-financial crisis framework is resilient enough to withstand the challenges of the future. Coronavirus has, in particular, uncovered one of our most fundamental, persistent weaknesses: our continued inability to anticipate and prepare for new financial risks. For this ill-preparedness, we have powerful actors like BlackRock, the asset management giant and political titan, to thank. In an effort to avoid more stringent regulation, BlackRock and others not only evaded scrutiny for their own contributions to systemic risk, but virtually destroyed the mechanisms designed to examine such risk across the wider economy.

The Covid-19 pandemic is creating ripe conditions for corporate acquisition sprees by industry giants. But at least one company, already under the microscope, isn’t just looking to pick off competitors. Facebook has its eyes on the supposed cops on this beat, the antitrust enforcement officials ready to jump ship.

The federal government’s independent federal agencies receive too little attention relative to their importance to our collective safety and prosperity. The Revolving Door Project has worked through multiple channels to shed light on these overlooked agencies and the threats that they face. We hope public education will generate pressure to safeguard the independence of these agencies and ensure that they are staffed with advocates for the public interest rather than corporate insiders.

This week, we learned that America squandered the opportunity to avoid an imminent critical shortage of lifesaving ventilators, and horrifying medical triage, amid surging COVID-19 cases in New York City, New Orleans, and elsewhere. The New York Times reported that a 2012 merger overseen by the Federal Trade Commission (FTC) foiled public-health officials’ push to replenish the nation’s ventilator supply.

Today, the Demand Progress Education Fund and Revolving Door Project submitted a complaint to the Securities and Exchange Commission (SEC) requesting that the agency investigate Senator Kelly Loeffler for insider trading.

Amidst an economy-crashing pandemic, several Senators appear to be more concerned with their stock portfolios than with the well-being of their constituents or with their Senatorial responsibility to offer a solution. Sadly, this will almost certainly not be the only instance of crisis profiteering during the coronavirus outbreak.

As we have previously highlighted, the federal government’s independent federal agencies receive too little attention relative to their importance to our collective safety and prosperity. The Revolving Door Project has worked through multiple channels to shed light on these overlooked agencies and the threats that they face. We hope public education will generate pressure to safeguard the independence of these agencies and ensure that they are staffed with advocates for the public interest rather than corporate insiders.