National Regulatory Budget Act: Controlling the Cost of Regulations
This act aims to introduce greater control over the costs that federal regulations impose on citizens and businesses. A new office will be established to analyze and report these costs, as well as propose ways to reduce them. This is intended to help better manage the burdens resulting from regulations.
Key points
Establishment of an Office of Regulatory Analysis to assess the costs of federal regulations.
Introduction of an annual regulatory cost cap for federal agencies.
Requirement to publish cost analyses of new regulations before they take effect.
Possibility of financial penalties for agencies that do not cooperate or exceed cost limits.
Expired
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