1. SUSAN E. DUDLEY DIRECTOR GW REGULATORY STUDIES CENTER RESEARCH PROFESSOR TRACHTENBERG SCHOOL OF PUBLIC POLICY AND PUBLIC ADMINISTRATION Regulatory Reform Past, Present, and Future

2. Budgetary Costs of Federal Regulation Adjusted for Inflation Source: Weidenbaum Center, Washington University and the Regulatory Studies Center, the George Washington University. Derived from the Budget of the United States Government and related documents, various fiscal years. 2

3. Views on regulation changing September 2011 3

4. Procedural Reforms 4 Congressional accountability  REINS Act  Congressional regulatory oversight office Regulatory development  Moratoria  Regulatory Accountability Act  ANPRM  Public hearings  Judicial review Retrospective review  President Obama E.O. 13563  Regulatory PayGo

5. Decision Criteria 5 Analytical considerations  Nature, significance and priority of problem  Alternative remedies  Costs, benefits (direct & indirect)  Adopt least-cost approach  Small entity impacts OIRA Role  President Obama reinforced  Codify in legislation  Independent Regulatory Commissions