A discussion of the Office of Management and Budget’s updated benefit-cost guidelines
Co-hosted by the Niskanen Center
On Monday, May 22, the Brookings Institution Center on Regulation and Markets and the Niskanen Center jointly hosted a conversation with Richard Revesz, administrator of the U.S. Office of Information and Regulatory Affairs (OIRA), Ted Gayer, president of the Niskanen Center, Zachary Liscow, chief economist of the U.S. Office of Management and Budget (OMB), and Connor Raso, senior associate general counsel at the Public Company Accounting Oversight Board.
Sanjay Patnaik, director of the Center on Regulation and Markets, provided welcoming remarks and Phil Wallach, senior fellow at the American Enterprise Institute, moderated the discussion on proposed updates to OMB Circulars A-4 and A-94, which guide government benefit-cost analysis. These updates aim to reflect new developments in scientific and economic understanding, given that the current circulars are several decades old, but some may have concerns about the impact of particular proposed changes. In any case, much of the impact will depend on public comment and subsequent implementation by OMB and agencies. The program covered the key issues to be resolved through these processes. This event was a part of the series “Reimagining Modern-day Markets and Regulations” under the Center on Regulation and Markets.
The livestreamed program ran until 3:00 p.m. and the in-person audience was invited to stay until 3:30 p.m. for informal networking. Viewers followed along with the conversation on Twitter using the hashtag #OMB and submitted questions using that hashtag or via email to email@example.com.
Registration is required to attend an event in person and guests at Brookings are required to attest to their state of health before attending. Visitors may not enter the building if they are feeling ill for any reason, have any symptoms commonly associated with COVID-19, or have tested positive for COVID-19 at any time in the preceding 14 days.
Welcome and introduction
Director - Center on Regulation and Markets
Bernard L. Schwartz Chair in Economic Policy Development
Fellow - Economic Studies
Chief Economist - U.S. Office of Management and Budget (OMB)
Professor of Law - Yale Law School
Senior Associate General Counsel - Public Company Accounting Oversight Board
Richard L. Revesz
Administrator - Office of Information and Regulatory Affairs (OIRA)
Philip A. Wallach
Senior Fellow - American Enterprise Institute
Former Expert - Brookings Institution
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