Unfunded Mandates Accountability and Transparency Act of 2026
Sponsored By: Senator Deb Fischer
Introduced
Summary
This bill would require stronger analysis and broader consultation for major federal rules. It would set a clear $100,000,000 annual economic-effect threshold for what counts as a "major rule," expand how agencies count costs, and give the Office of Information and Regulatory Affairs (OIRA) new oversight duties.
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Bill Overview
Analyzed Economic Effects
4 provisions identified: 0 benefits, 0 costs, 4 mixed.
Broader budget rules for mandates
If enacted, the bill would change the Congressional Budget Act so the budget point-of-order can apply to all federal mandates, not just intergovernmental ones. The bill would also remove the exclusion for independent regulatory agencies so those agencies are covered by the same procedures. These changes would take effect upon enactment.
New major rule test and costs
If enacted, the bill would call a rule "major" when it is likely to affect the economy by $100,000,000 or more per year. That $100,000,000 threshold would be adjusted every 5 years using the CPI-U. For major-rule analysis, "cost" would include compliance costs and reasonably foreseeable indirect costs, including lost revenue. These changes would take effect 120 days after enactment.
Stronger review for major rules
If enacted, agencies would have to publish both an initial and a final regulatory impact analysis (RIA) for any major rule. The initial RIA would be released with the proposed rule and open for public comment. RIAs would quantify benefits and costs where feasible, analyze alternatives, estimate job effects, and assess whether state, local, or Tribal costs can be paid with federal funds. Agencies would be required to pick the alternative that maximizes net benefits unless the OIRA Administrator approves another choice. Agencies starting a rule that may be major would have to open an electronic docket and publish a notice at least 90 days before the proposed rule and consult early with small businesses and state, local, and Tribal officials. OIRA would oversee compliance and send an annual report to Congress. If enacted, a person aggrieved by a final major rule could sue to challenge whether the agency followed the bill's RIA and net-benefit rules. RIA and notice requirements would begin 120 days after enactment; OIRA oversight and judicial-review provisions would take effect upon enactment.
Fed monetary-policy rules exempted
If enacted, rules about monetary policy from the Board of Governors of the Federal Reserve or the Federal Open Market Committee would be exempt from Titles II, III, and IV of the bill. That means the bill's procedural review, RIA, and consultation steps would not apply to Fed monetary-policy actions. This carve-out would take effect upon enactment.
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Sponsors & CoSponsors
Sponsor
Deb Fischer
NE • R
Cosponsors
James Lankford
OK • R
Sponsored 3/19/2026
Roll Call Votes
No roll call votes available for this bill.
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