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Amends 5 U.S.C. 601 by adjusting punctuation in existing paragraph entries and adding definitions for 'benefit-cost analysis' and 'regulatory impact analysis' as specified.
Adds new section 613 to chapter 6 (5 U.S.C. 613) establishing a prohibition on agencies and the Office of Management and Budget considering non-monetized or unquantified factors in regulatory impact analyses or benefit-cost analyses; requires agencies to publish summaries and full texts of such analyses in the Federal Register with methodology disclosures; directs OMB to issue revised guidance within 90 days of enactment; and provides for judicial review and invalidation of rules that violate the prohibition. The new subsection applies to rules issued on or after November 9, 2023.
This bill aims to change how rulemaking is reviewed. It would stop the use of any factors in regulatory analyses that aren’t priced in dollars or can’t be measured. In short, only monetized and quantified impacts could be counted when analyzing a rule’s effects.
Key points
RED TAPE Act
Referred to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced January 21, 2025 by Pete Sessions · Last progress January 21, 2025
Referred to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in House