New Circular A-4: A Revolution in Cost-Benefit Analysis
Lexology November 20, 2023
Sometimes called the most important document that most people have never heard of, Circular A-4 encodes the set of technical assumptions and cross-cutting policy approaches that guides U.S. executive agencies’ exercise of their regulatory power. On November 9, the Biden administration’s Office of Management and Budget (OMB) issued a wholesale replacement of the Circular A-4 that had been on the books for 20 years, with profound consequences for the United States’ regulatory landscape, guiding policy at agencies as diverse as the Environmental Protection Agency, the Occupational Safety and Health Administration, the Department of Transportation, and the Department of Health and Human Services, among many others.
Fundamentally, Circular A-4 is the White House’s guidance on how agencies should analyze their own...