President Biden issued an executive order April 6, 2023, directing federal agencies to consider the “distributional consequences” of regulations to ensure that regulatory initiatives appropriately benefit and do not inappropriately burden disadvantaged, vulnerable, or marginalized communities. E.O. 14094, entitled “Modernizing Regulatory Review,” instructs federal agencies to give greater thought to the “distributive impacts and equity” of proposed regulatory changes, while making fewer rules subject to cost-benefit analysis. A Memorandum from the White House Office of Information and Regulatory Affairs (OIRA) to federal agencies supplemented the E.O.
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