U.S. Chamber Opposes Changes to Regulatory Cost-Benefit Analysis That Would Unleash More Regulatory Overreach

WASHINGTON, D.C. —  U.S. Chamber of Commerce Executive Vice President and Chief Policy Officer Neil Bradley issued the following statement in response to President Biden’s new Executive Order Modernizing Regulatory Review:

"The Biden administration’s proposed changes to the regulatory review process will fundamentally undermine the concept of cost-benefit analysis, allowing the administration to hide the true costs of their aggressive regulatory agenda. While not perfect, America has benefitted for over four decades from an objective cost-benefit approach to assessing regulations that is now being upended.

"The administration’s proposal not only automatically exempts many regulations from detailed costs-benefit analysis by raising the threshold for review, it inserts new subjective terms like ‘dignity’ and ‘equity’ into the process, puts the thumb on the scale in favor of the benefit of regulations, and constrains opportunity for stakeholder input.

"The Chamber is gravely concerned with this new approach to regulatory review and urges the administration to reverse course."