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INDUSTRY & ANALYSIS REGULATORY AFFAIRS PROGRAM
The role of the Industry & Analysis (I&A) Regulatory Affairs program is to represent the competitiveness interests of U.S. companies and industries in the Federal Regulatory Review process. I&A conducts economic analyses to support regulatory reform and reviews cost-benefit analyses prepared by other Federal agencies. I&A’s primary value added arises from its unique industry and international trade expertise. The Office of Trade and Economic Analysis coordinates the I&A Regulatory Affairs program.
The Federal Regulatory Review Process
The Federal Regulatory Review process is governed by Executive Order 12,866 and the accompanying guidelines in Circular A-4. The Office of Information and Regulatory Affairs (OIRA) in the Office of Management and Budget (OMB) coordinates the interagency review process. According to E.O. 12,866, OIRA reviews “significant regulatory actions,” which includes regulations that will have an annual effect on the economy of $100 million or more.
Each agency in the executive branch that is responsible for writing rules publishes a semi-annual agenda in the Federal Register describing the rules it plans to implement in the future. Agencies also inform OIRA whether a given rule should be considered a significant regulatory action (OIRA can also independently declare a rule as significant). For significant rules, the agencies conduct a cost-benefit analysis and include it in a document called a Regulatory Impact Assessment (RIA). Agencies then publish a Notice of Proposed Rulemaking (NPRM) and an RIA in the Federal Register, after which the public has 60 days to submit comments to the “docket,” a public collection of all documents related to the rulemaking process. An electronic version of the docket is located on www.regulations.gov. Sometimes agencies will also have an electronic copy of the docket on their own website. After the comment period has passed, the agency will respond to comments, make changes to the rule and RIA as necessary, and then publish a final rule and RIA in the Federal Register.
For significant rules, OIRA distributes a copy of the NPRM and RIA to other interested agencies before it is approved to be published in the Federal Register. The final rule and RIA are also distributed before approval.
For more information please contact: Emily Kilcrease