Increased Oversight and Transparency in Federal Rulemaking Process
This Act imposes new requirements on federal agencies when creating regulations, especially those with significant economic impact (over $100 million annually). It mandates that agencies must publicly justify that the benefits of a major rule outweigh its costs and choose the alternative that maximizes net benefits. The goal is to make the regulatory process more transparent and accountable.
Key points
Agencies must conduct cost-benefit analyses for major rules and select the option that maximizes net benefits, unless prohibited by law.
Scientific, technical, and economic data used to support a rule must be placed in the docket and made accessible to the public, with certain exceptions.
Major rules must include a framework for assessment, requiring agencies to measure effectiveness and conduct a review within 10 years.
Courts are required to decide all questions of law de novo, considering agency views but not automatically deferring to their interpretation.
Status:
Introduced
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