Reforming regulation: Debating cost-benefit analysis and the role of OIRA

Each year, federal agencies issue regulations affecting public health, public safety, health care access, tax revenue, and other important outcomes. The federal rulemaking process—including the Office of Information and Regulatory Affairs (OIRA)’s role in reviewing regulations and requirements related to cost-benefit analysis—influences the content, timeliness, and durability of these regulations. 

On October 14, The Hamilton Project at the Brookings Institution and The Tax Law Center at NYU Law will host a virtual event on how to improve federal rulemaking. The event will feature a panel discussion with Aviva Aron-Dine (The Hamilton Project), Kristina Costa (University of Chicago Institute for Climate and Sustainable Growth), Greg Leiserson (Tax Law Center), and K. Sabeel Rahman (Cornell Law School).  

In conjunction with the event, The Hamilton Project and the Tax Law Center will release a policy proposal from Greg Leiserson (Tax Law Center) that calls for ending cost-benefit analysis requirements for tax and transfer rules (e.g., rules dealing with the tax system, Social Security, and other major safety net and health care programs). The paper argues that the conventions of formal cost-benefit analysis do not make sense for these rules, and attempting to apply them both slows and distorts the rulemaking process. 

For updates on the event, viewers can follow @HamiltonProj and @TaxLawCenterNYU, and join the conversation using #ReformingRegulation to ask questions or email [email protected].