Regulatory Accountability Act

The Regulatory Accountability Act (HR 3525) establishes new requirements for federal agencies creating regulations. It requires agencies to consider multiple alternatives for "major rules" (defined as those likely to cause $100 million or more in annual economic effect), conduct detailed cost-benefit analyses, and provide clear explanations of how benefits justify costs. The bill extends public comment periods for major rules (to 90 days), mandates transparency by making rulemaking information accessible to the public, and requires agencies to develop frameworks for assessing the effectiveness of major rules over time. This bill applies to all federal agencies that issue regulations, with specific requirements for rules likely to have significant economic impacts.