A study by the Pew Charitable Trusts shows that Missouri is in the top ten states when it comes to using cost-benefit analysis of taxpayer money.
Cost-benefit programs analyze the cost of public programs and the benefits they provide taxpayers. In short, it’s the study of how much bang taxpayers are getting for their buck. And it can be a very effective tool when drafting new laws or policy.
The “States’ Use of Cost-Benefit Analysis” report released this week finds that Missouri is one of ten states leading the way in using cost-benefit studies to shape its policy-making.
According to the report, Missouri held four cost-benefit studies in 2011, whereas some states, like Arizona and Delaware didn’t conduct any.
Most states are using cost-benefit data to better understand economic development and health and social services—but some are also using it to better administer education and housing.
Researchers interviewed policy makers and agency officials, and they also reviewed state reports.