Recently, the Treasury Department and the Office of Management and Budget (OMB) agreed that OMB would review tax regulations before release. The OMB Office of Information and Regulatory Affairs routinely does this type of review for other regulations, but this is new for most tax regulations. The memorandum of agreement stipulates that Treasury will prepare a cost-benefit analysis of any regulation projected to have an annual nonrevenue effect on the economy of $100 million or more. Our panel will discuss how Treasury should do the cost-benefit analyses and the implications of this set of activities.
Speakers include:
- Susan Dudley, Director, Regulatory Studies Center and Distinguished Professor, George Washington University; Former Administrator, Office of Information and Regulatory Affairs, Office of Management and Budget @SusanEDudley
- Chye-Ching Huang, Director of Federal Fiscal Policy, Center on Budget and Policy Priorities @dashching
- Greg Leiserson, Director of Tax Policy and Senior Economist, Washington Center for Equitable Growth @gregleiserson
- Mark Mazur, Robert C. Pozen Director, Urban-Brookings Tax Policy Center @TaxPolicyCenter
- David Weisbach, Walter J. Blum Professor of Law and Senior Fellow, Computation Institute of the University of Chicago and Argonne National Laboratory @UChicagoLaw
Event materials:
Background materials:
- The Story Behind the IRS’s Exemption From Oversight by Susan Dudley and Sally Katzen (The Wall Street Journal)
- IRS rulemaking should follow HHS model by Susan Dudley (The Hill)
- Cost-Benefit Analysis of Tax Regulations: A Case Study by Daniel Hemel, Jennifer Nou, and David Weisbach (University of Chicago Law)
- The Marginal Revenue Rule in Cost-Benefit Analysis by David Weisbach, Daniel Hemel, and Jennifer Nou (Tax Notes) - NOTE PAYWALL
For inquries regarding this event, please email [email protected].
Image attribution: Jacquelyn Martin, File/AP Photo
