ERASER Act

The ERASER Act (S 30) requires federal agencies to repeal at least three existing rules before issuing a new rule, with specific cost and relevance requirements for major rules. For major rules (those with significant economic impact), agencies must repeal rules costing at least as much as the new rule's cost, and the Office of Management and Budget must certify this cost comparison. The law applies to rules affecting businesses, state/local governments, or individuals, but excludes internal agency management rules. It also mandates a Government Accountability Office study every five years tracking the number and economic cost of active federal regulations.