Modernizing Regulatory Review

On April 6, 2023, the Biden Administration took two actions to modernize regulatory review.

First, the President signed an executive order that will focus federal agency and Office of Information and Regulatory Affairs (OIRA) time and resources where they can have the greatest positive effect and bring more voices into the regulatory process.

Second, OIRA issued proposed revisions to its government-wide guidance on regulatory analysis, Circular A-4, to help agencies better account for the full range of benefits and costs of their regulatory actions.

This talk will particularly focus on Circular A-4, including proposed revisions to guidance on discounting, geographic scope of analysis, and distributional analysis.