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[Federal Register: June 20, 2008 (Volume 73, Number 120)]
[Notices]
[Page 35194]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20jn08-122] ------------------------------------------------------------------ DEPARTMENT OF TRANSPORTATION Federal Motor Carrier Safety Administration Availability of Supporting Materials AGENCY: Federal Motor Carrier Safety Administration (FMCSA), DOT. ACTION: Availability of supporting materials. ------------------------------------------------------------------- SUMMARY: This notice advises the public of the availability on the
Department of Transportation (Department) Web site of revised guidance
and an accompanying advisory policy memorandum concerning the value of
a statistical life used by Departmental analysts when assessing the
benefits of preventing fatalities. Consistent with the revised guidance
and Departmental policy, the adjusted value of a statistical life will
be assessed in conducting economic analyses and identifying the
benefits of FMCSA regulatory initiatives in all open rulemaking
dockets. SUPPLEMENTARY INFORMATION: On February 5, 2008, the Department issued
revised guidance concerning "Treatment of the Value of Preventing
Fatalities and Injuries in Preparing Economic Analyses." Based on an
improved understanding of relevant academic research literature, the
revised guidance provides that the best present estimate of the
economic value of preventing a human fatality is $5.8 million. In an
advisory memorandum issued concurrently with the revised guidance to
Secretarial Officers and Modal Administrators, Assistant Secretary for
Transportation Policy Tyler Duval and General Counsel D.J. Gribbin
instructed that the newly adjusted $5.8 million human life value should
be used, effective immediately, for analyses performed by the
Department. In addition, the memorandum announced that the Department
will, for the first time, require supplementary analyses at values for
a statistical life higher and lower than the $5.8 million adjusted
value--specifically, assumptions of $3.2 million and $8.4 million for
the value associated with each life saved. Consistent with the revised Departmental guidance, FMCSA has
reassessed the regulatory analyses in open rulemaking dockets to take
account of the adjusted human life value. The revised guidance raising
the economic value of preventing a human fatality and the accompanying
policy memorandum may be found on the DOT Web site at: http://ostpxweb.ost.dot.gov/policy/reports/080205.htm. Issued on: June 12, 2008.
John H. Hill,
Administrator.
[FR Doc. E8-14008 Filed 6-19-08; 8:45 am] BILLING CODE 4910-EX-P
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