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Oct
26

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

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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.

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Trump’s regulatory budget represents real progress. One could even call it historic. But there is much more work to be done. Putting a single individual in charge of reform across the federal government and creating a parallel accounting system to include all new and existing regulations in the budgeting process could do the trick.

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