To amend the Truth in Regulating Act to make permanent the pilot project for the report on rules.

H.R. 1167 is a bill designed to increase congressional oversight of major federal regulations by extending a pilot program within the Government Accountability Office (GAO). Under this legislation, leaders of congressional committees can request that the GAO perform an independent review of "economically significant" rules—those expected to have an impact of $100 million or more on the economy or cause substantial effects on jobs, the environment, and public health.

For everyday citizens, this bill aims to provide greater transparency and accountability regarding how new federal regulations might affect their livelihoods and communities. By authorizing independent evaluations of the costs and benefits of major rules, the bill seeks to ensure that government agencies are held accountable for the economic and social consequences of the regulations they implement.