Limiting Unfunded Costs of New Federal Regulations
This act establishes annual limits on new costs that federal agencies can impose on states, local governments, and businesses through new regulations. It aims to control the financial burden of regulations by requiring Congressional approval if these limits are exceeded. Citizens may indirectly benefit from reduced financial burdens through more stable public finances and lower business costs.
Key points
The federal government will set yearly caps on new costs that agencies can impose on states, local governments, and businesses through new rules.
Rules exceeding these caps will require special Congressional approval, increasing oversight of regulatory spending.
The goal is to reduce financial burdens on citizens and businesses stemming from federal regulations.
Status:
Expired
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