At Last: The Coming of the Regulatory Budget

10 Jan, 2016, 21:30 ET from Center for Regulatory Effectiveness

WASHINGTON, Jan. 10, 2016 /PRNewswire-USNewswire/ -- Washington is abound with proposals to "regulate the regulators," namely placing procedural constraints on the writing of regulations.

However basic structural changes in the regulatory system which would obviate the need for many of these procedural requirements by instituting new institutional changes in the regulate state are rare.

The most significant institutional feature of the regulatory state is the establishment of centralized regulatory review in the White House Office of Management and Budget.

The second most significant feature of the regulatory state is the forthcoming implementation of a regulatory budget. A regulatory budget establishes a cap on the total cost regulators can impose upon the public.

What is needed now is for the public to demand that the process be jump started by:

  1. the Congress initiating a deliberative process on regulatory budgets by introducing legislation  once proposed by the then Senator Bentsen( D-Texas) titled The Regulatory Budget Act of 1979 ( S. 51 96th Congress 1st Sess 1979) and
          
  2. the Administration seeking public comment on mechanisms that can be used to implement a regulatory budget based upon existing law with full consideration of the experiences gained from a comparable effort made by the Carter Administration.

SOURCE Center for Regulatory Effectiveness



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