Elder financial abuse is now costing older Americans $2.9 billion a year, a 12 percent rise from two years ago . . .Read more
Bush Policy Places Lesser Value on Lives of Elderly
- May 30th, 2003
A Bush administration policy measures the economic impact of pollution controls and other environmental regulations by assuming that the life of each person over age 70 should be valued less than the life of a younger person, according to an article in The New York Times. Under the policy, dubbed the "senior death discount," the price of the life of someone younger than age 70 is put at $3.7 million, while that of a person over age 70 is valued at only $2.3 million'”37 percent less.
Environmentalists say the administration is using the policy as a rationale to weaken environmental regulations by reducing the perceived benefits. For example, under the traditional method of valuing each life equally, one air pollution regulation was shown to have benefits of $77 billion. If the "senior death discount" method and other more conservative assumptions were used, the same regulation could be shown to provide only $8 billion in benefits.
There appears to be disagreement within the Bush administration about whether or not the policy is still in force. Christie Whitman, who is stepping down as administrator of the Environmental Protection Agency, said her agency had never applied the policy in its decision making and never would.
"The senior discount factor has been stopped," Mrs. Whitman said. "It has been discontinued. E.P.A. will not, I repeat, not, use an age-adjusted analysis in decision making."
However, John D. Graham, the regulations administrator at the Office of Management and Budget who has been the champion of the policy, insisted that the overall approach was valid and would be a factor in decision making at the E.P.A. and elsewhere. Mrs. Whitman acknowledged that Dr. Graham''s method would still accompany her agency''s studies, including those on President Bush''s "Clear Skies" proposal.
To read the full article in the New York Times, go to: http://www.nytimes.com/2003/05/08/politics/08REGS.html (Free registration required and article may be only temporarily available.)
Local Elder Law Attorneys in Ashburn, VA
Law Offices of John L. Laster
John Laster is a lawyer licensed to practice in Virginia, Maryland and the District of Columbia. He limits his practice to wealth transfer planning, trusts, wills, powers of attorney, health care decision-making issues, estate administration and related tax, elder law and disability concerns. Listed in The Best Lawyers...
Hale Ball Carlson Baumgartner Murphy PLC
Jean Galloway Ball is certified in Elder Law by the National Elder Law Foundation. She is a 1977 honors graduate of the National Law Center, George Washington University, and she did her undergraduate work at the University of California at Berkeley, graduating Phi Beta Kappa in 1971. She is admitted to practice in Vir...
Needham Mitnick & Pollack, PLC
Judith Mtinick is well known for acting as a guardian, conservator, trustee or agent on behalf of clients or by court appointment. This experience gives her a wide perspective and extensive practical knowledge that she uses when advising clients in drafting their planning documents. Her experience, as a court appointed...