Sen. Rob Portman (R-Ohio) introduced S. 1606, the Regulatory Accountability Act, which would require federal agencies to be more transparent and accountable in the regulatory process. The AGC-supported legislation would modernize the 1946 Administrative Procedures Act by codifying requirements for cost-benefit analysis that administrations of both parties have sought through executive order, which hasn’t been adapted for 65 years.
The bill, which is bipartisan in nature with one Democratic co-sponsor, Mark Pryor (Ark.), has won backing from 60 industry groups, saying the bill is the first piece of regulatory legislation that is “both bipartisan and bicameral.” The House counterpart, introduced by Rep. Lamar Smith (R-Texas) also has a Democratic co-sponsor, Collin Peter (Minn.).
Both bills would require agencies to:
- Perform public outreach for comment earlier in the rulemaking process;
- Reduce use of “guidance documents” which are produced for internal use;
- Build cost-benefit analysis into each step of the regulatory process;
- Toughen standards for consensus on scientific and technical data; and
- Require agencies to adopt the “least burdensome option.”