From: The Regulatory Review
Requiring EPA cost-benefit analysis could ensure that regulations do more good than harm.
The U.S. Environmental Protection Agency (EPA) recently has taken a historic step to advance the “cost-benefit state,” the paradigm in which “government regulation is increasingly assessed by asking whether the benefits of regulation justify the costs of regulation.”
EPA issued an advance notice of proposed rulemaking soliciting public comment on whether and how EPA should create rules for weighing costs and benefits when implementing statutes. EPA also requested comment on specific analytic approaches to quantifying costs and benefits.