The executive branch
regulatory review
OMB's check on significant agency rules before publication, including a cost-benefit analysis. Established by executive order, not by statute.
In full
Since Executive Order 12866 (1993), agencies send significant proposed and final rules to OIRA, which reviews them against the administration's priorities and requires an assessment of costs and benefits. Independent agencies have historically been exempt. Review can take months and can substantially rewrite a rule before the public ever sees it, which is why the docket of pending reviews is worth watching.
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A plain-language explanation for civic education, not legal advice. When in doubt, the official source named above controls.