Trade associations call on Office of Management and Budget for cost-benefit analysis in federal departments
From: Daily Energy Insider
A collective 101 business trade associations signed onto a joint letter last week addressed to Neomi Rao, administrator of the Office Information and Regulatory Affairs within Management and Budget (OMB), to make a case for cost-benefit balancing in federal offices.
“We believe the time has come for EPA to reexamine its statutory interpretations, and unless prohibited by statute, implement its regulatory statutes through cost-benefit balancing,” the organizations wrote. “Agencies must prepare cost-benefit analyses to support their most significant regulations, and to the extent permitted by law, not regulate unless the benefits justify the costs and the selected regulatory option maximizes net benefits to society.”
