2.E: Regulation
Maximize social benefits of regulation while minimizing the costs and burdens of regulation. Other Information:
Relationship to Annual Performance Goals: OMB conducts comprehensive, timely and objective reviews of regulations, in particular
to assess their benefits and costs, to assure that they accurately reflect Administration policy, and to assure that they
appropriately carry out statutory requirements. Means and Strategies: OMB will work to ensure that the quality of data and
analyses used by agencies to make regulatory decisions improves. This will require more focussed use of agency resources and
better planning to ensure adequate time and support for such data gathering and analysis. OMB will work with agencies to support
further research to develop and improve techniques to measure benefits and costs. Using its role as central regulatory reviewer,
OMB will support more uniform application of standardized assumptions and methodologies across regulatory programs and agencies.
Similarly, OMB will work with agencies to develop data and methodologies to determine whether existing regulations need to
be reformed and, if so, how resources should be devoted to such reform. OMB will develop a pilot baseline measure of net benefits
for Federal regulations, and will work with agencies to increase quantitative measures of net benefits. OMB will work with
agencies in seeking to maximize net benefits for all regulations reviewed by OMB. External Factors: Performance depends to
a great extent on agency capability, which in turn is affected by current program demands; by the need in some agencies to
respond quickly to emergencies, such as health, safety or environmental crises; and Administration and legislative priorities.
Also, potential regulatory reform legislation or oversight activities may affect OMB's ability to achieve this goal.
Indicator(s):
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