; (ii) the methodology by which the agency plans to analyze the rule, including metrics by which the agency can measure— (I) the effectiveness and benefits of the rule in producing the regulatory objectives of the rule; and (II) the impacts, including any costs, of the rule on regulated and other impacted entities; (iii) a plan for gathering data regarding the metrics described in clause (ii) on an ongoing basis, or at periodic times, including a method by which the agency will invite the public to participate in the review process and seek input from other agencies; and (iv) a specific timeframe, as appropriate to the rule and not more than 10 years after the effective date of the rule, under which the agency shall conduct the assessment of the rule in accordance with paragraph (2)(A). (2) Assessment (A) In general Each agency shall assess the data collected under paragraph (1)(B)(iii), using the methodology set forth in paragraph (1)(B)(ii) or any other appropriate methodology developed after the issuance of a final major rule or a final high-impact rule to better determine whether the regulatory objective was achieved, with respect to the rule— (i) to analyze how the actual benefits and costs of the rule may have varied from those anticipated at the time the rule was issued; and (ii) to determine whether— (I) the rule is accomplishing the regulatory objective of the rule; (II) the rule has been rendered unnecessary, taking into consideration— (aa) changes in the subject area affected by the rule; and (bb) whether the rule overlaps, duplicates, or conflicts with— (AA) other rules; or (BB) to the extent feasible, State and local government regulations; (III) the rule needs to be modified in order to accomplish the regulatory objective