Truth in Regulation Act

[AI summary unavailable — showing source text] Truth in Regulation Act - Directs the Environmental Protection Agency and all other Federal regulatory agencies to issue an economic cost and environmental impact analysis prior to the enactment of any new regulation. Establishes a standing task force in each community affected by proposed agency regulations which shall prepare an economic impact statement regarding the proposed regulation. Requires such statement to include a statistical analysis of the economic and employment impact of proposed regulations. Requires these task forces to report their findings directly to the administrator of the relevant agency for inclusion in the agency's findings as reported to Congress. Declares that no regulation shall take effect unless both the agency and the task force find that compliance will not cause a higher percentage of unemployment in the industry directly affected. Permits Congress to waive this requirement.…