Time to Apply Office of Management and Budget Regulatory Review to Independent Agencies
Editor’s Note: See CRE’s 2002 Blueprint for OMB Review of Independent Agency Regulations here.
From: Truth on the Market
Last June, in Michigan v. EPA, the Supreme Court commendably recognized cost-benefit analysis as critical to any reasoned evaluation of regulatory proposals by federal agencies. (For more on the merits and limitations of this holding, see my June 29 blog.) The White House (Office of Management and Budget) office that evaluates proposed federal regulations, the Office of Information and Regulatory Affairs (OIRA), does not, however, currently assess independent agencies’ regulations (the Heritage Foundation has argued that independent agencies should be subjected to Executive Branch regulatory review). This is most unfortunate, because the economic impact of independent agencies’ regulations (such as those promulgated by the Federal Communications Commission, the Consumer Financial Protection Bureau, among many other “independent” entities) is enormous.
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