The Biden administration directed agency policymakers on Thursday to more heavily weigh how their economic regulations will help or hurt worker safety, children’s health, and consumer prices decades into the future.
The 93-page memo instructs agencies to pay more attention to how the costs and benefits of their regulations vary by person. They should account for how tougher pollution standards for factories, for example, will reduce the number of neighboring children diagnosed with cancer once they reach adulthood. They must more carefully calculate how price hikes or higher taxes hurt low-income families more than wealthier households.
“Gaining or losing $1,000 ...