OMB's Statements On the Benefits Of EPA Regulations Click to read article.
OMB has issued a report stating that the benefits of EPA's regulations exceed their costs by a factor of four or five. Some state that the OMB report finally gives recognition to the merits of a strong regulatory program at EPA.
"The reason is that no one really believes the EPA's numbers. The OMB report simply tallies up agencies' estimates of their programs' costs and benefits. Despite Reilly's protests to the contrary, agencies have every incentive to understate costs and overstate benefits. The EPA in particular has mastered this art. Our research at George Mason University shows that the EPA's cost estimates for air-quality regulations are understated by a factor of more than three. "