Archive for October, 2018
Joint Statement on Good Regulatory Practices between the Office of Management and Budget and the Ministry of Finance of the State of Israel
From: The White House
THE OFFICE OF MANAGEMENT AND BUDGET
OF THE UNITED STATES OF AMERICA
THE MINISTRY OF FINANCE OF THE STATE OF ISRAEL
Recognizing the economic significance of lowering regulatory costs and excessive bureaucracy emphasized by the Government of the United States of America and the Government of the State of Israel;
Recognizing the importance of promoting Good Regulatory Practices (GRPs) to improve the business and investment environment, increase the ease of doing business, and encourage innovation; and
Considering the joint commitment to enhancing bilateral economic collaboration and economic opportunities between the United States of America and the State of Israel,
How to improve Trump’s regulatory budget
Editor’s Note: How to improve Trump’s regulatory budget? Learn lessons from the godfather of regulatory budgeting.
From: Washington Examiner
by James Broughel
Additionally, having OIRA oversee the new budgeting system makes some sense, given the regulatory expertise the office possesses. On the other hand, OIRA only reviews about 8 percent of all federal regulations finalized in any particular year. Many agencies, such as the so-called “independent agencies” like the SEC and the FCC, are exempt from OIRA review, and by extension exempt from the new regulatory budgeting system. Smaller rules that might not have much impact individually, but altogether have a big cumulative impact, are also exempt from OIRA review.
International Tax Guidance Likely by Thanksgiving
By Lydia O’Neal, Emma Beyer, Alison Bennett, Siri Bulusu, Sony Kassam, Isabel Gottlieb, Andrew M. Ballard and Robert Lee
Hiring Continues at OMB, Treasury Has ‘Primary Expertise’
The OMB is continuing to hire tax specialists to handle 2017 tax overhaul regulations, Chief of Staff Anthony Campau said.
“The process is in full swing,” he told Bloomberg Tax. He didn’t provide details on how many specialists the office was hiring.
Trump Deregulatory Effort May Just Be Getting Started
From: Government Executive
“I think the pace of reform is continuing to accelerate,” Neomi Rao, administrator of the White House Office of Information and Regulatory Affairs, told a panel at Bloomberg Government last week. “Some of the major deregulatory actions have just taken this much time to finalize.”
With many in the Republican Congress on board for the agency-by-agency effort, the broader effort to philosophically redirect regulatory policies may focus on curbing the impact of what Rao and others refer to as “regulatory dark matter.” That alludes to agency-generated guidance, FAQs and information collecting she says can function as a “back door to imposing more regulation.” Such supplementary documents, Rao has said, unfairly exclude the public and violate due process.
USMCA Lauds the Irreplaceable Role of Centralized Regulatory Review
Editor’s Note: The complete text of the United States-Mexico-Canada Agreement (USCMA) is available here. The following is an excerpt from Chapter 28, Good Regulatory Practices. [Emphasis added]
Article 28.3: Central Regulatory Coordinating Body
Recognizing that institutional arrangements are particular to each system of governance, the Parties note the important role of their respective central regulatory coordinating bodies in promoting good regulatory practices among their regulatory authorities; performing key advisory, coordination and review functions to improve the quality of regulations; and developing improvements to their regulatory system. The Parties intend to maintain their respective central regulatory coordinating bodies, within their respective mandates and consistent with their law.
25 Years of E.O. 12866
Editor’s Note: See also The Iconic Executive Order 12291: The Precedent for the Preservation of Critical Executive Orders and The 50th Anniversary of Centralized Regulatory Review.
From: GW Regulatory Studies Center
By: Mark Febrizio, Daniel R. Pérez, & Zhoudan Xie
Rao acknowledged that the Administration was contemplating extending E.O. 12866 to independent regulatory agencies, an action supported by Richard Revesz, Lawrence King Professor of Law & Dean Emeritus at NYU Law School and Director of the Institute for Policy Integrity. He stated that some independent financial agencies face court challenges on their rules due to their lack of expertise in regulatory analysis. In such cases, OIRA could provide the expertise and help independent agencies address related issues.