CRE encourages our readers who have expertise in Benefit/cost analysis to make comments hereon.
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Procedurally the rulemaking process has often been driven by concerns for judicial review; however in the overwhelming number of cases the OIRA review process is driven by benefit/cost analysis not concerns that a rule will be overturned in court.
Through the work of a wide range of individuals working through this forum stakeholders will realize the importance of ramping up their attention to benefit/cost analysis; the traditional role played by the legal profession of taking the comments of others and writing summary comments will diminish. Instead a new brand of attorney will emerge who is knowledgeable in creating a strong record of review for agency policy makers and OMB—not the courts; a skill set usually not attainable in traditional Ad Law courses but will be attainable by the rebirth of Ad Law curricula. These millennial attorneys will have strong competition from their counterparts in political science, public policy and economics.
Internal OMB discussions on the need for benefit/Cost analysis: Circa 1970
Constitutional and Statutory Limits for Cost-Benefit Analysis Pursuant to Executive Orders 12,291 and 12,498
Institutionalization of Benefit/Cost Analysis
Corps of Engineers: The Birthplace Of Benefit/Cost Analysis and Centralized Regulatory Review