Archive for December, 2018
Legislative Impact Accounting: Incorporating Prospective and Retrospective Review into a Regulatory Budget
From: Public Budgeting & Finance | Volume 38, Issue 2 | Summer 2018
Jason J. Fichtner, Patrick A. Mclaughlin, Adam N. Michel
Congressional decision‐making suffers from scarce information about the scope and economic consequences of legislative actions. This paper proposes a better method to overcome congressional information scarcity. Our proposal relies on the premise that regulations have similar economic effects as taxes and spending, and therefore should be scored and tracked as part of the budget process. Our proposed system of legislative impact accounting (LIA) builds on the concept of a regulatory budget by developing a system for both prospective and retrospective review to create an effective feedback loop to better communicate information about economic effects of regulations to Congress.
The Office of Management and Budget: The Quarterback of Evidence-Based Policy in the Federal Government
Volume: 678 issue: 1, page(s): 112-123
Editor’s Note: See also Expanding the Scope of OIRA Review and A Blueprint for OMB Review of Independent Agency Regulations (March 1, 2002).
From: American Action Forum
Dan Bosch, Dan Goldbeck, Philip Rossetti
- The Trump Administration is considering expanding the White House’s review of regulations to include reviewing the Nuclear Regulatory Commission’s (NRC) rules.
- The NRC is a good candidate for review because its incentive to regulate is misaligned with the safety risks of newer technologies.
- The benefits of expanding regulatory review to the NRC markedly outweigh the costs.