Unfunded Mandates Accountability and Transparency Act of 2026

This bill, titled the Unfunded Mandates Accountability and Transparency Act of 2026, expands the Unfunded Mandates Reform Act of 1995 to require federal agencies to conduct more detailed regulatory impact analyses for certain rules that significantly affect the economy or various government levels. The legislation applies to all federal agencies and specifically includes Tribal governments alongside State and local governments, while exempting Federal Reserve monetary policy rules. Key provisions mandate that agencies publish initial and final analyses before and after proposing major rules, requiring quantified assessments of benefits and costs, consideration of alternative regulatory approaches, and consultation with affected stakeholders including private sector businesses. The bill also establishes new oversight responsibilities for the Office of Information and Regulatory Affairs to review agency compliance and requires agencies to explain why they selected one regulatory alternative over others when maximizing net benefits is not possible.