This report sketches issues underlying broader use of cost-benefit analysis. It focuses on cost-benefit as one of several related frameworks for assessing regulatory actions or policies. Cost-benefit is the broadest of these frameworks, which also include impact assessment, risk assessment, and cost-effectiveness. Which analytical framework is appropriate depends on the regulatory context.
The 104th Congress is actively debating proposals to reform several aspects of the Food and Drug Administration's (FDA) process for regulating consumer products, including its approval process for food additives. In June 1995, the Food and Drug Administration (FDA) announced at a House Government Reform and Oversight Subcommittee hearing several policy shifts in its food additive pre-market approval process which will soon be implemented.
In fiscal year 1994, the new states of the former Soviet Union became collectively the second largest recipient of U.S. foreign assistance made available from all sources. Whether and how the assistance program is helping to bring about democratic systems and free market economies is increasingly a question of interest to Congress and the public at large.
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