MSCI, Partners Argue For Cost-Benefit Analyses Of U.S. Regulations

The Metals Service Center Institute (MSCI) joined a group of stakeholders, including the National Association of Manufacturers, on June 21 to send a letter to the U.S. Office of Management and Budget asking that the Trump administration advance commonsense reforms that require federal agencies to weigh the costs and benefits of new regulations affecting manufacturers before enacting any new rules.

The letter specifically focused on cost-benefit analyses for Environmental Protection Agency (EPA) regulations, arguing that the time has come for EPA to reexamine its statutory interpretations, and unless prohibited by statute, implement its regulatory statutes through cost-benefit balancing. In the letter, MSCI and its partners said, “Reliance on balanced peer review and scientific advisory panels when evaluating rules helps agencies ensure that outdated, partial, or flawed studies do not influence our public policies. This approach leverages public accountability to prevent backroom negotiations, partisan rulemaking, and overly bureaucratic decisions that may otherwise lead to confusion and distrust of government.” Click here to read the full letter.

The EPA currently is actively seeking comment on how to improve the way it does its regulations, and is seeking input from stakeholders on issues such as cost-benefit analysis, cumulative impact of regulations, the need for robust risk assessment to inform benefits calculation, the proper use and counting of co-benefits, peer review, and retrospective review of regulations. More information can be found here and here. EPA is currently taking public comment through July 13, 2018, and comments can be filed via www.regulations.gov under docket ID number EPA-HQ-OA-2018-0107 or at this link.