Increased Transparency for Economic Regulations and Their Costs
This new law aims to increase transparency in how government agencies create regulations. Citizens will have easier access to information about planned rules, their costs, and economic impact, allowing them to better understand how new regulations might affect their daily lives and finances.
Key points
Government agencies will monthly publish information on planned regulations, including their objectives and legal basis.
Estimates of the costs of new regulations (e.g., whether they will be less than $50 million or more than $10 billion) and their impact on job numbers will be available.
Most new regulations will only take effect 6 months after their information is publicly available, allowing time for review.
An annual cumulative summary of all introduced regulations, their costs, and agency actions to reduce regulatory burdens will be published.
Introduced
Citizen Poll