ERASER Act

This bill says that before a federal agency can create a new rule, it must first get rid of at least three existing rules. If the new rule is a "major" one — meaning it could affect the economy by $100 million or more, significantly raise costs, or hurt competition and jobs — then the three rules being removed must be related to the new rule, and the new rule cannot cost more than the ones being repealed. These requirements apply to formal rules that go through a public comment process but do not apply to internal agency guidelines, general policy statements, or rules about how an agency is organized or run. The bill also requires the Government Accountability Office to report on how many rules are currently in effect and how much they cost.

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