Regulatory Accountability Act

The Regulatory Accountability Act establishes new requirements for federal agencies when creating significant regulations. It defines a "major rule" as one likely to cause $100 million or more in annual economic impact, requiring agencies to consider multiple alternatives, conduct cost-benefit analyses, and publish frameworks for assessing the rule's effectiveness. The bill also clarifies that agency guidance documents are not legally binding and must be published in a single online location. These changes apply to most federal agency rulemaking, aiming to increase transparency and accountability in the regulatory process.