Summary

Executive Order 12866--"Regulatory Planning and Review"--outlined the administration's regulatory philosophy and principles, described the organization of the federal regulatory system, and initiated a process to review, revise, and--in some cases--eliminate existing regulations. That review process ultimately became part of the administration's overall regulatory reform effort. The order also allocated responsibilities to both federal agencies and the Office of Management and Budget (OMB) in a centralized regulatory review process and recognized OMB's Office of Information and Regulatory Affairs as the repository of expertise on regulatory issues. This testimony discusses (1) implementation of the order's cost-benefit analysis requirements, (2) changes made by the Office of Information and Regulatory Affairs to agencies' proposed regulations, and (3) agencies' efforts to eliminate and revise regulations.