New Regulation Evaluation Rules: Only Quantifiable Financial Benefits
This new law changes how government agencies evaluate the impact of new regulations. From now on, when creating rules, they can only consider benefits and costs that can be expressed in monetary terms. This means decisions on new rules will be based solely on their measurable financial impact on citizens and businesses, excluding other non-quantifiable aspects.
Key points
Government agencies must evaluate new regulations solely based on their quantifiable financial benefits and costs.
Non-monetized factors, such as environmental or health impacts, will not be considered in cost-benefit analyses.
Citizens will gain the right to challenge regulations if an agency used non-quantified factors in their evaluation.
All analyses of new regulations' impact will be publicly available, increasing transparency.
Introduced
Citizen Poll