COST Act

Progress

Timeline

• Mar 18Committee on Small Business and Entrepreneurship. Hearings held.

Summary

**COST Act (S 4130) - Summary** This bill is currently being reviewed by a Senate committee and has not yet become law. **What it does:** The COST Act would require federal agencies to conduct more thorough economic analyses before implementing new regulations. Agencies would need to estimate the costs and benefits of proposed rules and consider alternative approaches. **Who it affects:** - Federal agencies that create regulations - Businesses and organizations subject to federal rules - The general public who may be impacted by regulatory costs or benefits **What would change:** - Agencies would face stricter requirements to justify new regulations economically - More detailed cost-benefit analyses would be required before rules take effect - The regulatory process could become longer but potentially more transparent - Some proposed regulations might be modified or rejected if costs are deemed too high The bill aims to increase accountability in the rulemaking process by ensuring agencies carefully weigh economic impacts before implementing new requirements.

How This Affects You