Regulatory Accountability Act: Enhancing Transparency and Oversight of Regulations
This act aims to increase transparency and accountability of government agencies when creating new regulations. It introduces new definitions and procedures to ensure agencies thoroughly analyze the costs and benefits of regulations, giving citizens more influence over the rulemaking process. This means future regulations should be more carefully considered and less burdensome for the economy and citizens.
Key points
Introduces new definitions for "high-impact rules" (cost > $500M annually) and "major guidance" (cost > $100M annually), requiring agencies to conduct detailed cost-benefit analyses.
Requires agencies to consider alternative solutions for new rules, including performance objectives and economic incentives, rather than just mandates.
Increases public participation opportunities in rulemaking by extending comment periods and allowing public hearings for genuinely disputed factual issues concerning high-impact rules.
Mandates the publication of assessment frameworks for new, significant rules to monitor their effectiveness and impact after implementation, with the possibility of modification or repeal.
Restricts agency communication with the public during the rulemaking process to prevent biased advocacy.
Amends judicial review standards, requiring courts to determine if agency factual findings for high-impact rules are supported by "substantial evidence."
Expired
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