S. 1708, the Regulatory Accountability Act, overhauls how federal agencies develop and implement major rules by imposing stricter procedural requirements, enhanced transparency, and stronger oversight. The bill defines major rules as those with $100 million or more in annual economic impact and requires agencies to consider multiple alternatives, conduct detailed cost-benefit analyses, allow 90-day public comment periods, and submit rules to the Office of Information and Regulatory Affairs before publication. Agencies must also publicly disclose all scientific and economic data, publish plain-language summaries, conduct periodic reassessments of rules, and ensure agency guidance documents clearly state they are non-binding. The Office of Information and Regulatory Affairs gains new authority to review agency compliance with these requirements and report to Congress annually, while courts gain expanded power to review regulations under modified standards. The bill also makes technical updates to dozens of federal statutes to ensure consistency with the revised Administrative Procedure Act framework across food safety, health care, labor, environmental, and other regulatory areas.
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