In a letter to the National Academy of Sciences on its project, "Assessing Approaches to Updating the Social Cost of Carbon," a group of prominent regulatory economists argues that federal regulatory analysis should compare domestic regulatory benefits to domestic costs.
Senate Shows Continuing Interest in Regulatory Reform
Regulation is one of the primary vehicles by which federal policy is formulated, and it affects every household, employee, and business in the United States. Recognizing the importance of the regulatory process, the U.S. Senate Homeland Security and Governmental Affairs Committee recently released a report, “Direct From the Source: Understanding Regulation From the Inside Out,” which features some practical solutions for regulatory reform submitted by the GW Regulatory Studies Center and other sources.
Looking Ahead to Regulation in 2016
Although Congress will not likely enact new legislation in President Obama’s final year in office, regulatory agencies are a different matter.
President Obama’s Regulatory Output: Looking Back at 2015 and Ahead to 2016
HHS leads the way in finalizing new economically significant rules
On May 3, 2011, EPA determined that regulation of hazardous air pollutants (HAP) from coal- and oil-fired electric utility steam generating units (EGUs) was appropriate and necessary, and proposed “mercury and air toxics standards” (MATS) pursuant to section 112 of the Clean Air Act (CAA). The agency issued final MATS on February 16, 2012.
Are Chemical Risk Assessment and Benefit-Cost Analysis Compatible?
Executive Order 12866 requires benefit-cost analyses for all regulations; in many cases these economic analyses rely upon risk assessment for critical inputs. Usually this is not a problem; in principle, risk assessment and benefit-cost analysis are perfectly compatible.
Herding Genetically Engineered Animals to Market
FDA’s decision to approve a genetically engineered salmon for human consumption bodes well for people interested in cheaper fish.
Missed Opportunity for EPA to Cut Back Renewable Fuel Standard
Congress and EPA should reevaluate whether the Renewable Fuel Standard is accomplishing its goals.
OMB's 2015 Draft Report to Congress on the Benefits and Costs of Federal Regulations
Pursuant to the Regulatory Right-to-Know Act, the Office of Management and Budget (OMB) submits to Congress each year an accounting statement and associated report providing estimates of the total annual benefits and costs of federal regulations; an analysis of impacts of Federal regulation on State, local, and tribal government, small business, wages, and economic growth; and recommendations for reform.
