The bill is poised to significantly reinforce existing federal regulations regarding the integrity of agency rulemaking. It places greater accountability on organizations providing studies that influence regulatory decisions, aiming to mitigate biases stemming from financial incentives. The implementation of these enhanced disclosures is expected to promote fairer regulatory outcomes and foster public trust in the processes of agencies. Furthermore, the addition of the Office of the Public Advocate within the Office of Management and Budget serves to enhance oversight, ensuring that public interest is prioritized in federal administrative actions.
Summary
House Bill 1507, known as the Stop Corporate Capture Act, aims to enhance the transparency of regulatory processes by imposing stringent disclosure requirements on interested parties submitting studies or research to agencies during rulemaking. It mandates that any submission including scientific or economic research must detail the funding sources, potential conflicts of interest, and any prior reviews by affected entities. This initiative seeks to reduce the undue influence of corporate interests on regulatory decisions by ensuring that all relevant financial relationships are disclosed publically.
Contention
Despite its intent, the bill has sparked debate among lawmakers. Proponents, primarily from progressive circles, argue that it is essential for ensuring ethical conduct in government interaction with corporate entities. However, opponents raise concerns that the compliance burden could deter valuable research contributions from academic and private sectors, potentially stifling innovation and slowing down the rulemaking process. This tension between regulatory integrity and operational efficiency remains a focal point in discussions surrounding the bill.
Water Quality Certification and Energy Project Improvement Act of 2023 TAPP American Resources Act Transparency, Accountability, Permitting, and Production of American Resources Act Regulations from the Executive in Need of Scrutiny Act of 2023
Small Business Regulatory Flexibility Improvements Act This bill modifies the rulemaking requirements and procedures of federal agencies under the Regulatory Flexibility Act of 1980 and the Small Business Regulatory Enforcement Fairness Act of 1996, including how agencies consider economic impact with respect to small entities. Specifically, the bill requires agencies to consider the direct, and the reasonably foreseeable indirect, economic effect of a rule on small entities when determining whether a rule is likely to have a significant economic impact. Further, the regulatory flexibility analysis for rules with a significant economic impact must include a detailed description of alternatives to a proposed rule that minimize any adverse significant economic impact or maximize any beneficial significant economic impact on small entities. The bill also expands the types of agency actions (e.g., revisions to land management plans) that are subject to a regulatory impact analysis. The bill removes the authority for an agency to waive the regulatory flexibility analysis requirements and requires the Office of Advocacy of the Small Business Administration to issue rules for compliance with such requirements. The bill also modifies the procedures for the (1) gathering of comments for a proposed rule, (2) periodic review of agency rules, and (3) judicial review of final rules.