The Buckeye Institute testified before the Ohio House Government Oversight Committee on the policies in House Bill 376, which would protect consumer data and is “among the best state data privacy laws already implemented or being considered.” Logan Kolas, an economic policy analyst with the Economic Research Center at The Buckeye Institute, noted that House Bill 376 “takes a consumer-oriented approach to data privacy” and would help businesses provide better services by harnessing the free market to determine what privacy services customers prefer.
In The Columbus Dispatch, The Buckeye Institute looks at a “smarter way for Ohio to regulate the rapidly emerging financial technology sector or ‘fintech’,” writing, “Recently introduced legislation…proposes building a ‘regulatory sandbox’ in which fintech companies may test new products or services and experiment in the marketplace under the supervision of expert regulators, but without the added expense of Ohio’s full regulatory regime…Building a smart regulatory sandbox would help consumers and businesses access the banking and capital they need, and help Ohio join the fintech revolution.”
Buckeye Institute-Championed Policies Would Enable ‘Fintech’ Companies to Develop New and Better Services for Customers
The Buckeye Institute testified before the Ohio Senate Financial Institutions and Technology Committee on the policies in Senate Bill 249, which would make Ohio a more attractive place for financial technology companies to move to or expand by cutting red tape and complicated regulations that impede companies from developing and offering innovative products to customers. This new “regulatory sandbox” approach to oversight would enable fintech companies to develop new and better services for customers.
In Crain’s Cleveland Business, The Buckeye Institute looks at how Ohio can become a leader in emerging technologies, writing, “Once a cutting-edge innovator and technology trendsetter, Ohio regrettably lags behind peers that have embraced technological change and innovation by reforming their rules and rewriting regulations to keep up with the times. Now, Ohio must do the same if it wants to reclaim its distinguished, trailblazing glory.”
For many emerging technologies states should play a larger role than the federal government in setting rules and regulations. So, what defines technologies where states should have the primary role? Logan Kolas, economic policy analyst at The Buckeye Institute, joins Caleb O. Brown, host of the Cato Daily Podcast, and outlines the technologies where the federal government should play a muted role in setting the rules of the road.
Internet access is a key ingredient to make Ohio an emerging technology leader and to give Ohioans the opportunity to succeed in the 21st century economy. By increasing accountability and transparency, using reverse auctions, holding contractors accountable, and exploring new and innovative ways to bridge the digital divide, Ohio lawmakers will ensure that taxpayer dollars are being effectively used to connect Ohioans with life-improving, high-speed internet.
The Buckeye Institute released a new policy report, Policy Solutions for More Innovation: A Policy Primer for Emerging Technology in Ohio, which outlines guiding principles and 25 actionable policy recommendations that policymakers should adopt to ensure that Ohio can take full advantage of the economic benefits and the improvements to quality of life that come with advances in technology. “Emerging technologies have a lot to offer Ohio—better pay, better jobs, better healthcare, better transportation, better education, better lifestyles.”
In Crain’s Cleveland Business, The Buckeye Institute outlines why the decision to end participation in the Federal Pandemic Unemployment Compensation Program was the right decision for Ohio, with Logan Kolas, an economic policy analyst with the Economic Research Center at The Buckeye Institute, writing, “Ohio should prioritize policies and incentives that get Ohioans back to work and its businesses back to business as usual.”
Many state leaders frustrated with the slow pace of re‐employment have opted to quit offering enhanced unemployment benefits. Logan Kolas, economic policy analyst at The Buckeye Institute, joins Caleb O. Brown, host of the Cato Daily Podcast, to discuss what that means for Ohio and many other states.
In a new piece, The Buckeye Institute looks at the impact different types of taxes have on Ohio’s economy. Logan Kolas, an economic policy analyst with The Buckeye Institute’s Economic Research Center, writes, “The [Congressional Budget Office] has confirmed what we and other economists have explained time and again: Taxes—and how governments levy them—matter.”