Honour to Pledge to Conduct Economic Analysis

US - A dozen senators are urging Agriculture Secretary Tom Vilsack to follow through on a pledge that a “far more rigorous cost-benefit analysis (CBA) will be conducted” on the proposed Grain Inspection, Packers and Stockyards Administration (GIPSA) livestock marketing rule.
calendar icon 29 December 2010
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“We are hopeful that the United States Department of Agriculture (USDA) is now on the path to conducting a thorough, comprehensive CBA, which will provide the kind of information that is necessary to understand the potential consequences of this rule,” said the senators in a letter to Secretary Vilsack.

The senators noted that this announcement leads to several relevant questions including:

  • To what extent will the USDA Chief Economist Joseph Glauber and the Office of the Chief Economist (OCE) will be involved?
  • To what extent will the Office of Information at the White House Office of Management and Budget will be involved?
  • What is the scope of the CBA that will be conducted?
  • Could the rule actually lead to decreased competition and fewer markets for American producers to market their livestock?

“Given the significance of the potential impacts of the proposed rule on livestock and poultry producers, processors and consumers, it is essential that we proceed with the best information we can, including a thorough and comprehensive CBA conducted by the OCE, aided by an impartial, external peer review,” the letter concluded.

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