Avik, focusing on the implications of the Romney plan for the health sector, is not impressed. But like me, he was very impressed by the section of regulatory policy:

While Romney’s plan is relatively weak on the politically sensitive subjects of entitlement spending and tax reform, it does much better on regulatory reform. Romney promises, on day one of his Presidency, to direct the HHS Secretary “and all relevant federal officials to return the maximum possible authority to the states to innovate and design health care solutions that work best for them.” He also supports repealing Obamacare, of course.
What’s important, first and foremost, is that he calls attention to the problem. According to U.S. Small Business Administration figures cited by Romney, the annual costs of government regulation are $1.75 trillion, far more than the government receives in individual and corporate income taxes.
Romney has two very interesting ideas on the regulatory front. First, he intends to “impose a regulatory cap” such that “the rate at which agencies could impose new regulations would be capped at zero…[agencies will have to] go through a budget-like process and identify offsetting cost reductions from the existing regulatory burden.” Second, he supports a Republican congressional proposal to require all new rules with an economic impact of over $100 million “to be approved by both houses of Congress before taking effect.” Such a law would have a significant impact on the promulgation of health care regulation.

More to come on the Romney plan.