The bill would require agency heads to estimate the public cost of each major rule before issuing it. They must identify an agency rule that could be repealed to offset that cost and repeal any rule they identify. Each major rule published in the Federal Register must include a statement saying whether it is budget neutral. The bill defines a major rule by its expected economic impact or effects on costs, competition, jobs, investment, productivity, or innovation. It also includes agency guidance documents in its definition of a rule, with exceptions for certain types of rules.
If a major rule affects you, its estimated public costs—including costs to understand or follow it—would be considered. The agency would also have to state whether repealing other rules offsets those costs.
No publicly available information about the cost of carrying out the bill's requirements.
No publicly available information.
No publicly available information.