President Obama ordered federal agencies to follow guidelines when proposing regulations, in an executive order issued earlier this week. These guidelines include conducting cost/benefit analyses, tailoring the regulation to impose the least amount of burden, specifying performance objectives rather than certain behaviors, and assessing available alternatives such as incentives and choices.
The agencies are also directed to enhance public participation, promote innovation, provide for flexible approaches, and ensure scientific objectivity.
Obama also ordered the federal agencies to conduct a review of all existing significant regulations and, within 120 days, provide a plan on how this will be accomplished.
The executive order was signed on January 18, 2011.