Applying common sense through a cost-benefit analysis - including consideration of long-term costs such as environmental impact - the Trump administration rule was to eliminate two regulations for every new regulation that was implemented.
Now, in an executive order that has been largely overlooked, President Biden not only is reversing the Trump policy, he's taking regulatory power a step further.
Titled "Modernizing Regulatory Review," the order shows that for the Biden administration, regulatory power is more than a means of protecting lives and maintaining an even playing field.
Released late in the evening of his first day in office, Jan. 20, the order signals Biden's intent to eliminate the cost-benefit analysis that, the editors point out, "For many decades has served as at least a modest brake on the ambitions of regulators."
The Post affirmed that Biden's order is "Game changing," possibly leading, according to analysts, to a "Break with 40 years of conservative policy."
Clyde Wayne Crews, a regulation expert at the Competitive Enterprise Institute, warned that Biden's order is "Likely to do away with cost-benefit analysis by elevating unquantifiable aims as benefits and deny costs of regulation altogether," Issues & Insight pointed out.
In an interview on MSNBC's "All In," the New York lawmaker said the orders Biden issued Wednesday on climate change, in particular, show "a good-faith openness and relationship" to the party's progressive activist base.
https://www.wnd.com/2021/01/overlooked-biden-executive-order-greatest-harmful-impact/
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