OIRA’s Regulatory Reform Report for Fiscal Year 2019

Wed, 12/18/2019 - 16:17

The Office of Information and Regulatory Affairs (OIRA) released its annual Regulatory Reform Status Report on December 6, 2019. The report, which in the past has been published along with the Fall Unified Agenda, compiles executive branch agencies’ continued efforts to comply with Executive Order 13771.OIRA’s report announces that agencies issued 150 deregulatory actions and 35 regulatory actions, producing $13.5 billion in regulatory cost savings in 2019 present value terms. Nevertheless, this falls short of the FY 2019 cost caps established by the Office of Management and Budget (OMB) in last year’s report, which projected savings of $18 billion in 2018 present value terms. The report also presents cost caps for FY 2020, which project savings of $51.6 billion (2019 present value). Despite the report’s glossy highlights, closer analysis suggests that the administration’s regulatory reform efforts deserve additional scrutiny and improved transparency, such as providing itemized cost savings for each completed action. Additionally, a look beyond the topline figures highlights several “firsts” in agency implementation of EO 13771—the ratio of significant actions falling below the 2-for-1 metric, agency cost savings coming up short of their government-wide targets, and next year’s budget caps permitting some agencies to impose net costs.Read more...https://regulatorystudies.columbian.gwu.edu/sites/g/files/zaxdzs1866/f/downloads/GW%20Reg%20Studies%20-%20OIRA%E2%80%99s%20Regulatory%20Reform%20Report%20for%20Fiscal%20Year%202019%20-%20MFebrizio%20and%20DPerez.pdf