Presidential oversight: Controlling the regulators

In 1974, President Ford initiated a procedure by which the regulatory policies of federal agencies were subjected to systematic oversight. This activity continued with modest success through subsequent administrations. A substantial stiffening of oversight powers under President Reagan raises basic questions about the best means for performing effective oversight. Proposals for a so‐called regulatory budget, within which each agency would be obliged to operate, could expand the oversight authority; but it is too exclusively cost‐oriented. A more promising approach is to impose expiration dates on regulations, making them subject to renewal, and to reform the legislative mandates of the regulatory agencies.