With little fanfare late last month, the Office of Management and Budget released its 2014 draft annual report to Congress on the costs and benefits of regulations. The report, required under the Regulatory Right-to-Know Act, summarizes the benefits and costs of major federal rules – those anticipated to have an annual economic impact of $100 million or more and subject to review by the Office of Information and Regulatory Affairs (OIRA) at OMB – for the 2013 fiscal year, as well as for the previous decade. The report finds that once again, the nation achieved significant health, safety, environmental, and other benefits at a relatively low cost.
