Executive Order on Regulatory Planning and Review

EXECUTIVE ORDER ON REGULATORY PLANNING AND REVIEW
[SOURCE: White House]
On Thursday, President Bush amended a Clinton-era Executive Order (12866) on regulatory planning. The biggest change may be in rewriting a section to read: "Each agency shall identify in writing the specific market failure (such as externalities, market power, lack of information) or other specific problem that it intends to address (including, where applicable, the failures of public institutions) that warrant new agency action, as well as assess the significance of that problem, to enable assessment of whether any new regulation is warranted." Originally that section read: "Each agency shall identify the problem that it intends to address (including, where applicable, the failures of private markets or public institutions that warrant new agency action) as well as assess the significance of that problem."
http://www.whitehouse.gov/news/releases/2007/01/20070118.html
* See the original Order at http://govinfo.library.unt.edu/npr/library/direct/orders/2646.html