Benefit-Cost Analysis and the Discount Rate for the Corps of Engineers' Water Resource Projects: Theory and Practice

Description

Construction of large water resource projects, such as those of the Army Corps of Engineers (Corps), can be controversial because they involve trade-offs among various river uses, and between current and future generations. Pursuant to federal water project planning guidelines, the Corps weighs these trade-offs using benefit-cost analysis. If its analysis shows that a project’s national economic development (NED) benefits exceed its NED costs, the Corps seeks project authorization from Congress. Congress authorizes the Corps to construct some of these large water projects through (usually) biennial Water Resource Development Acts. Since the Corps rarely recommends a project that does not ... continued below

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29 pages.

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Powers, Kyna June 23, 2003.

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This report is part of the collection entitled: Congressional Research Service Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. It has been viewed 445 times . More information about this report can be viewed below.

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Description

Construction of large water resource projects, such as those of the Army Corps of Engineers (Corps), can be controversial because they involve trade-offs among various river uses, and between current and future generations. Pursuant to federal water project planning guidelines, the Corps weighs these trade-offs using benefit-cost analysis. If its analysis shows that a project’s national economic development (NED) benefits exceed its NED costs, the Corps seeks project authorization from Congress. Congress authorizes the Corps to construct some of these large water projects through (usually) biennial Water Resource Development Acts. Since the Corps rarely recommends a project that does not have a benefit-cost ratio greater than 1.0, this report describes the decisions that influence this ratio, with a focus on the role of the discount rate.

Physical Description

29 pages.

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Congressional Research Service Reports

The Congressional Research Service (CRS) is the public policy research arm of Congress. This legislative branch agency works exclusively for Members of Congress, their committees and their staff. This collection includes CRS reports from the mid-1970's through the present--covering a variety of topics from agriculture to foreign policy to welfare.

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  • June 23, 2003

Added to The UNT Digital Library

  • Aug. 10, 2006, 2:52 p.m.

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  • Jan. 25, 2017, 7:13 p.m.

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Citations, Rights, Re-Use

Powers, Kyna. Benefit-Cost Analysis and the Discount Rate for the Corps of Engineers' Water Resource Projects: Theory and Practice, report, June 23, 2003; Washington D.C.. (digital.library.unt.edu/ark:/67531/metacrs9078/: accessed February 26, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.