An estimate of the cost of public protections often cited by regulatory opponents has been rejected by researchers from the Economic Policy Institute (EPI). The critique, Flaws Call for Rejecting Crain and Crain Model, concludes that because the $1.75 trillion cost estimate is heavily based on flawed methodology and flawed data, it "should not be used either as a valid measure of the costs of regulation or as a guide for policy."

Last Friday, the U.S. Environmental Protection Agency (EPA) withdrew from consideration a final rule that clarified exemptions to its Toxics Release Inventory (TRI) reporting requirement. The articles exemption clarification was being reviewed by the Office of Information and Regulatory Affairs (OIRA), the last step before it could be finalized and published in the Federal Register. The OIRA review process is not made available to the public, so it is impossible to tell what caused EPA to pull the rule.

Sen. Joseph Lieberman (I-CT), chair of the Senate Committee on Homeland Security and Governmental Affairs, opened a committee hearing on regulation with the quote above. His committee was conducting a hearing today entitled Federal Regulation: A Review of Legislative Proposals.