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OMB Seeks Comment on Draft Report to Congress on the Costs and Benefits of Federal Regulations
As required under Section 628 of the FY
2000 Treasury and General Government Appropriations Act, OMB has
recently produced a Draft Report to Congress on the Costs and Benefits
of Federal Regulations, which includes estimates of the costs and
benefits of regulations in the aggregate, by agency and agency
program, and by major rule, as well as recommendations for reform in
the regulatory process. The Act requires OMB to analyze the impacts of
federal regulation on state, local, and tribal governments, small
businesses, wages, and economic growth. It also mandates that OMB must
go through notice and comment procedures and peer review of the Report
before its submission to Congress.
OMB has divided the Draft Report into
an introduction and three chapters, which generally include the
following elements.
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Click here
to immediately access the Draft Report.
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Introduction
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Provides background
information and sets the following chapters in
context.
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Chapter I
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Discusses various types of
regulations and problems encountered by OMB in the past in
terms of estimating total costs and benefits of federal
regulations.
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Proposes new approaches to
produce better estimates. (Comments and suggestions
requested.)
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Chapter II
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Provides data on costs and
benefits of each of the major regulations reviewed by OMB
under Executive Order 12866 between April1, 1999 and March
31, 2000.
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Provides information on costs
and benefits of major regulations issued by independent
agencies during the same period.
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Chapter III
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Discusses prior year’s
recommendation to improve the regulatory information
provided by federal agencies.
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Seeks comments on the above
proposal as well as other suggestions to improve the
transparency and the public’s understanding of the
regulatory analyses provided by agencies.
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How to Submit Comments to
OMB
OMB is accepting written public comment
on the Draft Report until July 2, 2001. Comments may be submitted as
follows:
Send mailed comments to:
Mr. John F. Morrall III
Office of Information and Regulatory Affairs
Office of Management and Budget
New Executive Office Building, Room 10235
725 17th Street, N.W.
Washington, D.C. 20503
Send e-mail comments to: jmorrall@omb.eop.gov
Fax comments
to: (202) 395-6974
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