by Jim Tozzi. Original source: RegBlog
The White House Office of Management and Budget (OMB) proposed the first regulatory budget proposal and regulatory cost accounting legislation in 1979. Subsequently, a number of Presidents and members of Congress have continued to endorse proposals to create a regulatory budget for the federal government.
Some thirty-six years later, although the idea of a regulatory budget has yet to become law, there has been a resurgence of support for such a budget. Over the last year or so, numerous actions have taken place, which reveal considerable interest in institutionalizing a regulatory budget. These actions have included:
- The Administrative Law Review’s publication of an article entitled, “The Regulatory Budget Revisited”;
- The release of a white paper authored by the research chief of the Administrative Conference of the United States, “Controlling the Cumulative Costs of Regulation,” that reviews various proposed solutions to runaway regulatory costs, including a one-in-one-out regulatory budget;
- Hearings on the issue convened by the Senate Government Affairs Committee and the Senate Budget Committee;
- The endorsement of the idea of regulatory budgeting by at least two candidates for the Republican nomination for president;
- Discussion of regulatory budgeting on the program at the American Bar Association’s Administrative Law Section annual meeting;
- Recognition in a recent Council on Foreign Relations publication that regulatory “budgets do force bureaucracies to weigh regulatory decisions more carefully and systematically analyze the existing regulatory stock”; and
- The adoption of a regulatory budget in Canada.
Why such renewed interest at this time?
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