The Regulatory Budget Revisited

Abstract

This Article presents a review and reappraisal of the concept of regulatory budgeting in light of recent trends in regulation — both in the United States and abroad. Part I outlines the academic literature and other commentary on the purpose and design of a regulatory budget. Part II describes Legislative and Executive Branch activity on this issue over the past thirty-five years. Part III describes the United Kingdom’s recent experience with a new regulatory constraint — the “One-in, Two-out” policy — that operates much like an incremental regulatory budget.