The Administration stongly opposes House passage of H.R. 1074, which would require that the Office of Management and Budget (OMB) annually prepare an extensive report on the costs and benefits of Federal regulations. H.R. 1074 would significantly expand the requirements of reports that OMB has prepared under recent appropriations riders. While the Administration agrees that regulations should be well-analyzed and justified, it has serious concerns with H.R. 1074.
The Administration agrees that cost-benefit analysis on significant regulations is important and has included such a requirement for major rules in its executive order on regulatory reform. However, this legislation would require a cost-benefit analysis by agency, agency program, and program component. The increased burden that this would place on the agencies would crowd out other priorities and would add little value in many cases.