The US actually has done this very thing since Reagan: https://ballotpedia.org/Presidential_Executive_Order_12291_(...
That's an executive order (regulation) requiring proposed regulations undergo a cost-benefit analysis before being promulgated.
It's why we got mandated backup cameras in cars: the cost-benefit analysis revealed the cost to have these in every new car was dwarfed by the cost in human lives of all the kids who were being run over in driveways bc they weren't visible behind cars.