Benefit-Cost Analysis at Independent Regulatory Agencies

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Committee: 
Benefit-Cost Analysis at Independent Regulatory Agencies in stage 8. Implementation

Project Stages:

1. Gather ideas - Completed
2. Select ideas - Completed
3. Council approval - Completed
4. Picking a researcher - Completed
5. Committee consideration - Completed
6. Back to the council - Completed
7. Consideration by the full conference - Completed
8. Implementation - Current
Stage:  
8. Implementation

Contacts

Committee Chair
Partner
Stinson Morrison Hecker LLP
Implementation Contact
202.480.2083
rbull@acus.gov
Consultant
Retired (Former Specialist in American Government at the Congressional Research Service)
Media
202.480.2091
mkindelan@acus.gov

Background Information: Though independent regulatory agencies are not subject to the benefit-cost analysis requirements of Executive Orders 12866 and 13563, several such agencies undertake benefit-cost analysis in connection with their regulatory activities.  For instance, the Federal Communications Commission and the Securities and Exchange Commission regularly conduct benefit-cost analysis in their rulemakings.  In addition, in Executive Order 13579, the Obama Administration has asked independent regulatory agencies to engage in retrospective review of existing regulations in accordance  with the principles of Executive Order 13563, a process that presumably entails analysis of the costs and benefits of these existing rules.  Finally, several recent cases have concerned the adequacy of benefit-cost analyses conducted in connection with independent regulatory agency rulemakings.  See, e.g.Bus. Roundtable v. Sec. & Exch. Comm’n, 647 F.3d 1144 (D.C. Cir. 2011).  This project examined the use of benefit-cost analysis at independent regulatory agencies and highlighted certain innovative practices those agencies have developed.

Final Recommendation

Recommendation 2013-2,“Benefit-Cost Analysis at Independent Regulatory Agencies,” highlights a series of best practices directed at independent regulatory agencies in the preparation of benefit-cost analyses that accompany proposed and final rules.

Implementation

At its Plenary Session on June 13-14, 2013, the Administrative Conference adopted Recommendation 2013-2, regarding the use of benefit-cost analysis by independent regulatory agencies.  The recommendation highlights innovative practices relating to the preparation and publication of economic analyses adopted by certain independent regulatory agencies as well as certain principles drawn from Circular A-4 and urges independent regulatory agencies to consider adopting such innovations, as appropriate.  It also offers a set of recommendations to Congress in the event that it determines to expand or endorse the expansion of economic analysis requirements applicable to independent regulatory agencies.

Project Documents

Name Committee Type Datesort ascending
Benefit-Cost Analysis Regulation Recommendation June 13, 2013 Download
Benefit-Cost Analysis Draft Recommendation with Amendments (for Plenary) Regulation Recommendation June 7, 2013 Download
Webcast of the Committee's April 2, 2013 Meeting Regulation Webcast May 24, 2013 Watch Video
Webcast of the Committee's April 29, 2013 Meeting Regulation Webcast May 24, 2013 Watch Video
Benefit-Cost Analysis Draft Recommendation Regulation Recommendation May 22, 2013 Download
Sean Croston Comment Regulation Public Comment April 29, 2013 Download
Committee on Regulation Meeting Minutes Regulation Meeting Minutes April 26, 2013 Download
Chamber of Commerce Comment Regulation Public Comment April 26, 2013 Download
Committee Meeting Agenda Regulation Agenda April 26, 2013 Download
Combined Comments Regulation Member Comment April 24, 2013 Download
Benefit-Cost Analysis Draft Recommendation Regulation Recommendation April 23, 2013 Download
CPSC Commissioner Nord's Comments Regulation Public Comment April 8, 2013 Download
Economic Analysis Final Report Regulation Report March 29, 2013 Download
Committee Meeting Adenda Regulation Agenda March 27, 2013 Download
Institute for Policy Integrity Comment Regulation Public Comment March 27, 2013 Download
Committee on Regulation Meeting Agenda Regulation Agenda March 4, 2013 Download
Peter Strauss Comment Regulation Member Comment February 26, 2013 Download
Economic Analysis Report Appendix Regulation Appendix February 15, 2013 Download
Benefit-Cost Analysis Draft Recommendation Regulation Recommendation February 15, 2013 Download
Committee on Regulation Meeting Minutes Regulation Meeting Minutes September 24, 2012 Download
Independent Agency Cost-Benefit Analysis Project Outline Regulation Outline September 18, 2012 Download
Regulatory Relief at Independent Regulatory Agencies CIRA Report Regulation Report November 1, 1982 Download

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