The two poles of regulatory reform are 1) Require all regulations be approved by Congress to 2) Require “expensive” regulations be approved by Congress. But how to you get rid of existing regulation? By Act of Congress — not easy. But this is linear thinking. Article V is an open invitation to think outside the box. If it’s politically feasible, it can be done. That’s the only restraint on an Article V Convention.
Constitutional regulatory reform could involve the creation of an entirely new institution — say, the Federal Regulation Commission. Its members would be appointed by the States. It could repeal any existing regulation. But Congress could overturn any repeal, by statute.
Maybe that’s not the answer. There may be problems with that approach that I’m not aware of. But the point is that it’s possible. New institutions can be created. The Framers didn’t anticipate the Regulatory State. So the way to solve the problem is up to today’s political leaders. The possible solutions are limited only by the imagination.
Not all American political institutions are creatures of government. Our political parties created themselves. The Majority Coalition of the 2016 Amendment Convention, if it comes into being, will have created itself. Even after the Convention has adjourned it can continue in existence if that is the will of the group. It may be just an informal committee of correspondence, but it can meet, and, collectively, make decisions — decisions binding only on itself, such as what is the consensus for a subject of a second Convention. Individual members of the Coalition would come and go with each election cycle. But there would be enough continuity to create a new political institution, if that is the will of the members. An institution with the potential to solve many of the problems we face.