OMB: Costs, benefits of federal regs vary

The financial benefits of federal regulations are highly uncertain, but in some years might be less than their costs, according to a draft report released Tuesday by the Office of Information and Regulatory Affairs at the Office of Management and Budget.

The report was issued in accordance with the Regulatory Right- to-Know Act. It estimates that federal regulations cost $520 billion to $620 billion annually, while producing benefits ranging from one-half to three times that amount, according to an OMB statement.

The estimated annual benefits of "major" federal regulations cleared by OMB from April 1, 1995, to Sept. 30, 2001, ranged from $49 billion to $68 billion annually, while costs were in the range of $51 billion to $54 billion per year.