Shouldn't government regulators think through the likely effects of proposed regulations before they are issued to consider whether they'll do more good than harm? Every president for more than 35 years has thought so, and has required executive branch agencies to analyze regulatory impacts before imposing new rules. Further, to ensure they meet those requirements, most agencies must send proposed rules for review to the Office of Information and Regulatory Affairs (OIRA) in the Office of Management and Budget.
However, because of their historical designation as “independent,” some agencies (such as the Securities and Exchange Commission, the Federal Communications Commission, and the Consumer Product Safety Commission) are exempt from these common-sense requirements, making their regulations less well-reasoned and accountable than others.
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