Document ID: FMCSA-1998-3706-0256
Agency: fmcsa
Document Type: Rule
Title: Availability of Supporting Materials
Posted Date: 2008-06-24T04:00Z

[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]                         

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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.

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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]

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