BEFORE THE OCCUPATIONAL SAFETY ANO HEALTH ADMINISTRATION WASHINGTON, D. C. : EXPOSURE TO INORGANIC ARSENIC PROPOSED STANDARD DOCKET NO. OSH-37

by Jakina Debnam on September 15, 1976
by Jakina Debnam and James C. Miller

Thank you. We are pleased to have this opportunity to present the views of the Council on Wage and Price Stability on this important matter. My name is James C. Milley’ III, and I am Assistant Director of the Council for Government Operations and Research. With me today from the Council’s staff are Dianne Lev’ine, Senior Economist, and Peter H.
Lowry, Assistant General Counsel.
As most of you are aware, the Council was created by the Council on Wage and Price Stability Act of 1974. The Council’s responsibility under that Act is to monitor the inflationary impact of activities in both the private and public sectors of the economy and to present its views on such matters. With regard to government activities, section 3(a) of the Act expressly directs the Council to review programs of Federal agencies for the purpose of determining the extent to which those programs and activities are contributing to inflation; it also directs the Council to intervene in rulemaking proceedings before any department or agency to present the Council’s views as to the inflationary impact that might result from such proceedings. Also, pursuant to Executive Order 11821 and OMB Circular A-107, the Council has a responsibility to review Inflation Impact Statements (lIS’s) prepared by Executive branch agencies.
In our view, inflation is more than simply a matter of possible increases in conventional indices such as the consumer price index (CPI). Rather, to the extent that the benefits of a proposed regulation exceed its costs, that regulation is anti-inflationary, even though the benefits may not be reflected in a lower CPl. On the other hand, if the costs of a proposed regulation exceed the benefits, it is inflationary.

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