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As required by the Regulatory Right to Know Act, enacted in 2000, the Office of Management and Budget submits an annual report to Congress outlining the costs and benefits of regulations issued the previous year. It appears, from the latest report, issued in draft form last Friday, that the benefits of regulations in effect the past ten years are three to eight times their costs. Critics of President Trump’s deregulatory agenda say these numbers prove that de-regulation is misguided. In this article, Susan Dudley, former OMB regulatory czar, examines the draft report’s details and context, and shows its numbers actually support efforts to reduce regulation.
