Independent Agency Regulatory Analysis Act

The Independent Agency Regulatory Analysis Act would grant the President the authority to require independent regulatory agencies—such as the Federal Communications Commission (FCC) or the Securities and Exchange Commission (SEC)—to follow the same rigorous cost-benefit analysis standards as other executive branch departments. Under this bill, these agencies would be required to assess the potential economic impact of "economically significant" rules (those affecting the economy by $100 million or more) and submit those findings to the Office of Information and Regulatory Affairs for review before they are finalized.

For citizens, this bill aims to increase transparency regarding how major federal regulations might affect jobs, consumer prices, and the economy at large. By requiring agencies to evaluate more affordable alternatives to proposed rules, the legislation is designed to ensure that new federal mandates are more thoroughly vetted for their practical and financial impact on the public.