Sponsors (3)
The bill trades lower regulatory costs and clearer OMB-led transparency and accountability for a higher risk that politically mediated caps and new review steps will slow or block public-protective rules, concentrate authority in the White House, and increase administrative burdens on agencies.
Small businesses and other regulated entities face lower new compliance costs because the law caps aggregate unfunded regulatory costs each year.
Taxpayers, federal, state, and local governments, and the public gain greater transparency and clearer procedural guidance because OMB must publish cost caps and reasoned statements quickly, produce annual reports, and OIRA must establish an Associate Administrator and issue compliance guidance.
Courts and regulated parties can challenge noncompliant rulemaking under the new procedures, strengthening legal accountability of agencies.
Small businesses, state and local governments, and the public may see important public-protective rules delayed or blocked if those rules would exceed the caps unless Congress enacts a joint resolution.
Federal agencies and independent rulemakers may lose autonomy and regulatory authority as power is shifted toward the OMB Director and the White House, and the required congressional joint-resolution step creates political veto points that can politicize routine regulatory decisions.
Businesses and taxpayers may face uncertainty and slower implementation because agencies must await OMB determinations before finalizing rules, which can delay rule benefits and compliance timelines.
Based on analysis of 2 sections of legislative text.
Introduced May 8, 2025 by Pat Fallon · Last progress May 8, 2025
Creates a government-wide regulatory budget run by OMB that caps the amount of new "additional unfunded regulatory costs" federal agencies can impose each fiscal year. The Director of OMB sets an economy-wide cap and separate agency caps annually, requires agencies to submit proposed limits and cost data in advance, and blocks agency rules that would push costs over caps unless Congress approves them by joint resolution. Requires OIRA to add an Associate Administrator for Regulatory Budgeting, sets reporting and publication deadlines, creates a cause of action for judicial review under the Administrative Procedure Act, and spells out exemptions, definitions, and timelines for implementation and reporting.