Michael Franc of the Heritage Foundation has written an informative and cheeky set of predictions about what a Democratic Congress may do next year. Here’s the lede:
Corporate America, “fat cat” investors, entrepreneurs–and maybe even anyone with a special yen for French fries–could be in for a bumpy ride for the next couple of years. Especially if they drive an SUV.
That’s because so many liberal Democrats rode a wave of heated rhetoric to electoral victory last month. In their campaigns, liberals railed harshly against a litany of homegrown “evils.” Some were entire industries: oil and natural gas, pharmaceuticals, tobacco, fast food chains–and virtually any sector that dares emit a greenhouse gas. Others were specific firms–Wal-Mart and Halliburton, for instance.
Franc argues that some of the Democratic agenda will quickly run up against congressional leaders’ own promises of fiscal restraint and the continued political toxicity of major tax increases. But in the regulatory arena, where there is no published budget of annual cost to point to (add that to the long list of what the GOP Congress should have done), the potential for troublemaking is substantial.