Cost-Benefit Analysis in Federal Agency Rulemaking (CRS Report for Congress)
| Release Date |
Revised Oct. 28, 2024 |
| Report Number |
IF12058 |
| Report Type |
In Focus |
| Authors |
Maeve P. Carey |
| Source Agency |
Congressional Research Service |
| Older Revisions |
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Summary:
Since the 1970s, federal agencies have been required to
consider the costs and benefits of certain regulations that
are expected to have large economic effects. Under current
requirements, most agencies are to design regulations in a
cost-effective manner and ensure that the benefits of their
regulations justify the costs.
Today, cost-benefit analysis of regulations is primarily
required by Executive Order (E.O.) 12866, which was
issued in 1993 and remains in effect. E.O. 12866 comprises
one of the analytical requirements that are part of the
federal rulemaking process, which includes other executive
orders, guidance documents from the Office of
Management and Budget (OMB), and statutory
requirements.
This In Focus provides a brief overview and discussion of
the key cross-cutting executive orders and statutes that
require cost-benefit and other types of regulatory impact
analysis in the federal rulemaking process.
