EPA knocks $900,000 off value of a life - raises bar for safety regulations
July 10th, 2008 | by jeff | | Post to NewsCloud »
The "value of a statistical life" is $6.9 million in today’s dollars, the Environmental Protection Agency reckoned in May - a drop of nearly $1 million from just five years ago. When drawing up regulations, government agencies put a value on human life and then weigh the costs versus the lifesaving benefits of a proposed rule. The less a life is worth to the government, the less the need for a regulation, such as tighter restrictions on pollution.
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