On April 26, the Regulatory Accountability Act (RAA) was introduced in the U.S. Senate with bipartisan support from Senators Rob Portman (OH) and Heidi Heitkamp (ND). The RAA has a goal of creating a more transparent, accountable regulatory process that would yield more effective regulatory outcomes for American businesses.
Specifically, the bill would do the following: require effective cost-benefit analysis; improve transparency and accountability in the federal regulatory process; provide certainty for businesses and consumers; create an automatic review process for major regulations; and, allow federal agency hearings on the most significant regulations.
Click here to view a summary of the bill; click here to read the complete article from the Ohio AgriBusiness Associaton (OABA).