Bill > S76

This bill establishes a comprehensive framework for retrospective review of major federal regulations, requiring agencies to create detailed assessment plans for significant rules that are likely to have substantial economic impacts (defined as rules with annual effects of $100 million or more, or significant effects on competition, employment, or other key sectors). When proposing or finalizing a major rule, agencies must now include a framework that outlines their regulatory objectives, describes how they will measure the rule's effectiveness, and plans for gathering data and public input. Within a maximum of 10 years after a rule's implementation, agencies must conduct a thorough assessment to analyze whether the rule's actual benefits and costs match initial expectations, determine if the rule is accomplishing its intended objectives, and evaluate whether the rule needs modification, expansion, or elimination. The Office of Information and Regulatory Affairs (OIRA) will provide oversight, issue guidance, and can exempt certain rules from these requirements, such as emergency rules or routine annual regulations. The bill also limits judicial review of these assessments, ensuring that courts can only verify procedural compliance rather than second-guess the substantive findings. Importantly, the legislation aims to make federal regulations more adaptive, efficient, and responsive to changing economic and societal conditions by mandating periodic, structured evaluations of major regulatory actions.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/76/all-info