A post on Fox & Friends facebook page says:
"Not so sweet! New federal regulations set to come into effect that may force dozens of states to end school bake sales because of nutrition standards...Should the gov't really be involved in bake sales?"
The regulations do apply nutritional standards to bake sales but only to those that are held on school property during school hours. I don't know how things are now but when my sons were growing up, bake sales were held at other times, not during school hours. I can only think of one case where a bake sale was held during school hours. So it is just directed at items sold to the kids as snacks during the day.
I posted this fact in the comments but I so wish this crap could be shot down in a hurry and in a way that puts it in front of Fox viewers...