The Department of the Treasury has just released a list of 300 tax regulations to eliminate. This is an overdue and commendable effort to clear out the regulatory cobwebs that hang throughout the tax code, and is part of a broader move to simplify the tax system that Trump administration officials have undertaken. They would likely be the first to agree, though, that there are still plenty of spiders lurking in the law that need to be confronted.

Treasury initiated its review of the federal tax code following an executive order issued last April. Each agency was directed to set up a regulatory reform task force to identify regulations that inhibit job growth, are outdated or unnecessary, impose costs that exceed the benefits, or are inconsistent with the administration’s regulatory reform initiative.