Regulatory Accountability Act

HR 442, the Regulatory Accountability Act, requires federal agencies to conduct more thorough cost-benefit analyses for rules with significant economic impact. The bill defines "major rules" as those likely to cost the economy $100 million or more annually (adjusted for inflation) and "high-impact rules" as those costing $500 million or more annually. Agencies must consider multiple alternatives, including market-based approaches, before issuing such rules, and must publish frameworks for assessing a rule's effectiveness. The bill applies to most federal regulations but excludes monetary policy and certain types of guidance. It aims to make the regulatory process more transparent and accountable by requiring agencies to justify regulatory costs with benefits.