“President Biden last night signaled he would take a bold approach to federal regulations — giving some hope to the progressive wing of his party.
He signed a memo called ‘Modernizing Regulatory Review,' which states that regulations are critical to fighting tangible problems.
‘Our Nation today faces serious challenges, including a massive global pandemic; a major economic downturn; systemic racial inequality; and the undeniable reality and accelerating threat of climate change,' the memo reads.
While Biden is keeping in place the basic structure of regulatory review — including cost-benefit analyses loathed by progressives — he summoned the Office of Management and Budget to create procedures to ensure ‘regulatory initiatives appropriately benefit and do not inappropriately burden disadvantaged, vulnerable, or marginalized communities.'”