All Economic Regulations are Transparent Act of 2023 or the ALERT Act of 2023 This bill establishes various reporting requirements with respect to federal agency rulemaking. Specifically, each agency must submit a monthly report to the Office of Information and Regulatory Affairs (OIRA) for each rule the agency expects to propose or finalize during the following year, including information about the objectives and legal basis for the rule as well as whether the rule is subject to periodic review based on its significant economic impact. Additionally, each agency must submit a monthly report for any rule expected to be finalized during the following year for which the agency has issued a general notice of proposed rulemaking, including an approximate schedule for completing action on the rule and an estimate of its cost and economic effects. OIRA must publish this information online and, subject to certain exceptions, a rule may not take effect until the information has been published for at least six months. The bill also requires OIRA to annually publish in the Federal Register specified information it receives from agencies under this bill, including a list of each rule an agency has proposed and the total cost of all rules proposed or finalized. OIRA must further publish online (1) any analysis of the costs or benefits of rules that were proposed or finalized during the previous year, and (2) a list of rules that were subjected to various forms of review during the previous year.
The implementation of HB 262 aims to shift state laws towards greater accountability in governance. By mandating public access to detailed reports on rulemaking, the bill could lead to reduced regulatory burdens for businesses while enhancing public awareness of federal agency actions. The requirement for rules to be published online six months before taking effect seeks to provide stakeholders more time to review and respond to new regulations. This could foster a more engaged public and encourage regulatory reform based on data-driven assessments of rule efficacy and economic implications.
House Bill 262, also known as the ALERT Act or the 'All Economic Regulations are Transparent Act', is designed to enhance the transparency of federal regulations. The bill amends Title 5 of the United States Code to require the Office of Information and Regulatory Affairs (OIRA) to compile and publish information on rulemakings by federal agencies. This includes monthly submissions from agencies detailing expectations for future rules and an annual report summarizing rule-related actions, which will be made publicly available on the Internet. The bill aims to provide a clearer understanding of how regulations are developed and the economic impacts of these rules.
The sentiment surrounding the bill is broadly supportive among advocates of regulatory reform, particularly from business groups who view increased transparency as beneficial for competitive practices and compliance strategy. However, critics express concerns that focusing on cost-benefit analysis may downplay important regulatory protections that safeguard public health, safety, and the environment. There is a tension between the desire for reduced bureaucratic red tape and the need for regulations that protect citizen interests. The debate illustrates differing perspectives on the balance between economic freedom and regulatory oversight.
Notable points of contention include the potential for the bill to inadvertently weaken regulatory protections. Opponents argue that emphasizing transparency in cost-benefit analysis could lead agencies to prioritize economic factors over essential safety regulations or environmental standards. Moreover, the implementation timeline for monthly submissions and annual publications may place an additional burden on federal agencies, prompting discussions about the practicality and financial implications of these requirements. These disputes reflect broader conversations on how regulatory frameworks can best achieve economic growth while maintaining public welfare.
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