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Impact Statements Before completing the rulemaking process, Federal agencies are obliged by statutes and Executive Orders to undertake various "impact statements." These require an analysis of the impacts on particular affected sectors of the economy or society. The earliest such requirement is found in the 1970 National Environmental Policy Act (NEPA) which requires "environmental impact statements" for Federal actions that have a significant impact on the human environment. Other impact requirements are required by the Regulatory Flexibility Act, the Unfunded Mandates Reform Act and Paperwork Reduction Act. Numerous executive orders require similar analyses of economic costs and benefits, federalism, takings of private property, and the impact on the courts, children's health and Indian tribes.
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