Executive Orders 12866 and 13563 direct agencies to assess all costs and benefits of available regulatory alternatives and, if regulation is necessary, to select regulatory approaches that maximize net benefits (including potential economic, environmental, public health and safety effects, distributive impacts, and equity)
Despite its use in smoking cessation aids and new safe nicotine products dominating the market, nicotine does carry significant risks and side effects, particularly when used long-term
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We note that the BEA benchmark I-O data is used to further disaggregate residual costs in other CMS market baskets
