OMB Finalizes Cost-Benefit Changes Likely To Bolster GHG, EJ Focus

The Office of Management & Budget (OMB) has finalized the first major update to its cost-benefit review guide in two decades, including changes that aim to put new emphasis on the distributional effects of regulations on disadvantaged populations. The new “Circular A-4” which revises a 2003 policy with the same designation, largely retains proposed language earlier this year that included a lower initial discount rate used to reduce estimate future benefits of rules, and directives for agencies to weigh the...