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America’s Business Leaders Call for Greater Use of Cost-Benefit Analysis

Smart Regulation Primer Shows How Better Analysis Can Improve Efficiency and Effectiveness

WashingtonBusiness Roundtable, representing CEOs of major U.S. companies operating in every sector of the economy, released today a new resource for congressional and federal agency staff. The white paper, Using Cost-Benefit Analysis to Craft Smart Regulation: A Primer and Key Considerations for Congress and Federal Agencies, shows how cost-benefit analysis can lead to smarter regulation and offers recommendations on how federal rulemaking can be improved.

“The Business Roundtable CEOs have long supported efforts to make the federal regulatory process more transparent, to improve the quality of information used in rulemaking and to utilize more objective cost-benefit analysis,” said Andrew N. Liveris, Chairman and Chief Executive Officer of The Dow Chemical Company, and current chair of the Business Roundtable Smart Regulation Committee. “This report highlights potential areas of concerns and offers several reform recommendations to the current federal regulatory process.”

Business Roundtable has consistently advocated for smart regulations that address societal concerns without imposing undue costs on the economy. In an additional report on the topic, Achieving Smarter Regulation, which lays out principles for regulatory reform, Business Roundtable CEOs said, “the government should objectively analyze the costs and benefits of proposed and final major rules from all agencies, including ‘independent’ regulatory commissions.”

The primer released today details how agencies can ensure that cost-benefit analyses are transparent, reproducible and as accurate as possible.

Click here to view the Business Roundtable primer on cost-benefit analysis.

Click here to learn more about smart regulation.

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