ALERT Act

The "All Economic Regulations are Transparent Act," or ALERT Act, aims to significantly enhance transparency in federal rulemaking by amending Title 5, United States Code. It mandates that federal agencies submit comprehensive monthly reports to the Office of Information and Regulatory Affairs (OIRA) detailing rules they expect to propose or finalize within the subsequent 12-month period. These submissions must include a summary of the rule, its objectives, legal basis, and whether the agency plans to conduct an analysis of its costs or benefits. For rules that have reached the proposed stage, agencies must also provide an approximate schedule for completion, an estimate of the rule's potential cost across various tiers (ranging from less than $50 million to $10 billion or more), and any available economic impact assessments, including effects on jobs and unfunded mandates. Furthermore, agencies are required to list all influential scientific information related to the rule, along with peer review plans and public disclosure dates. OIRA is then mandated to make this agency-specific information publicly available on the Internet within 30 days of receipt. Annually, OIRA must publish a cumulative assessment in the Federal Register and online, detailing all regulatory activity from the previous year. This assessment includes the number and list of proposed and finalized rules, an indication of whether cost-benefit analyses were conducted, and actions taken by agencies to repeal or reduce the scope or cost of existing rules. It also requires reporting the total estimated cost of all rules and unfunded mandates, along with analyses of costs or benefits for each rule, and information on reviews by the Office of Management and Budget and the Comptroller General. A significant provision of the bill establishes that a rule generally cannot take effect until its required information has been publicly accessible on the Internet for a minimum of six months. This waiting period is designed to ensure public awareness and scrutiny of upcoming regulations. However, exceptions apply for rules claiming specific exemptions or those deemed necessary by the President due to imminent threats to health or safety, national security, criminal law enforcement, or international trade agreements.