New Rule Evaluation: Only Quantifiable Financial Benefits Count
This act changes how government agencies evaluate new regulations. From now on, when creating new rules, they can only consider benefits and costs that can be expressed in monetary terms. This means non-monetized aspects, like environmental or health impacts, might be overlooked, potentially affecting citizens' quality of life.
Key points
Government agencies must focus solely on quantifiable financial benefits when evaluating new regulations.
Non-monetized factors, such as environmental, safety, or health impacts, will not be considered in cost-benefit analyses.
Citizens gain the right to challenge regulations if an agency considered non-monetized factors in their evaluation.
All regulatory impact analyses will be publicly available, increasing transparency.
Status:
Introduced
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