The Regulatory Reform Act

GAO discussed S. 1080, the Regulatory Reform Act, focusing on the quality and usefulness of regulatory analysis and on Office of Management and Budget (OMB) oversight requirements for such analysis. GAO supports the use of regulatory analysis, believing that it contributes to more cost-effective regulation. GAO believes that S. 1080 could increase the total costs of regulatory analyses because the bill would require independent agencies to perform such analyses and would eliminate executive discretion to waive the current regulatory analysis requirements. Further, in light of current budget austerity measures, some federal agencies may give regulatory analysis lower priority. GAO also stated that OMB could use its centralized position to promote consistent and coordinated use of analytical techniques and methodologies between federal agencies, to a greater extent than in the past. Finally, GAO suggested that Congress clarify the ambiguity concerning the nature and role of Presidential oversight of the rulemaking process and that Congress explicitly identify those statutes where use of regulatory analysis is prohibited.