Impact analysis is a general term used to describe various economic analyses that are
supplemental to the estimates of total benefits and costs. These analyses go beyond a simple
benefit-cost analysis to examine various aspects of the composition of benefits and costs. The
impact analyses required by EO and statute were introduced in Section 2 of this manual. Three
statutes specifically require an analysis of regulatory impacts:
- UMRA requires an analysis of intergovernmental impacts.
- RFA, as amended by SBREFA, requires an analysis of impacts on small
entities.
- PRA, as amended, requires an analysis of recordkeeping and reporting
impacts.
The requirements imposed by each of these statutes are described in
detail in Sections 6.1 through 6.3. In addition, the Environmental Justice
and Children’s Health EOs require each Federal agency to assess the
impacts of its regulations on minority and low-income populations and
on children, respectively. These and other distribution effects are
discussed in Section 8.4. Special emphasis is given in this section
to those distribution effects mentioned in these EOs and in EO 12866
(Regulatory Planning and Review). The last subsection of this section
briefly identifies other structural impacts addressed in economic analyses
of regulations.
| 1 Section 1(b)(11) of EO 12866
also requires that agencies tailor their regulations to impose
the least burden on small
businesses, small communities, and government entities, thereby
implicitly requiring an analysis of the impacts imposed on
these specific groups of entities. |
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