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Bill > S148
US S148
US S148RED TAPE Act Regulations Evaluated to Determine The Anticipated Price and Effect Act
summary
Introduced
01/17/2025
01/17/2025
In Committee
01/17/2025
01/17/2025
Crossed Over
Passed
Dead
Introduced Session
119th Congress
Bill Summary
A bill to prohibit the use of non-monetized or unqualified factors for regulatory analyses, and for other purposes.
AI Summary
This bill, known as the RED TAPE (Regulations Evaluated to Determine The Anticipated Price and Effect) Act, aims to fundamentally change how federal agencies conduct regulatory analyses by prohibiting the use of non-monetized or unquantified factors in regulatory impact and benefit-cost analyses. The legislation requires agencies to focus exclusively on tangible, immediately quantifiable monetary benefits when evaluating proposed rules, and mandates that the Office of Management and Budget (OMB) cannot authorize or consider any factors that cannot be directly translated into financial terms. Agencies will now be required to publish detailed summaries of their regulatory impact analyses in the Federal Register, including specific methodologies and economic impact assessments. The bill provides a mechanism for judicial review, allowing parties affected by a rule to challenge it in federal court if non-monetized factors were used in its development, with courts empowered to invalidate such rules. If a court finds that an agency relied on unquantifiable factors, the rule can be declared invalid. The legislation defines regulatory impact analysis by referencing specific Executive Orders and OMB Circulars, and requires the OMB to issue revised guidance to agencies within 90 days of enactment. The provisions will take effect 30 days after the bill becomes law, representing a significant shift towards a more financially quantitative approach to regulatory decision-making.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Read twice and referred to the Committee on Homeland Security and Governmental Affairs. (on 01/17/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
---|---|
State Bill Page | https://www.congress.gov/bill/119th-congress/senate-bill/148/all-info |
BillText | https://www.congress.gov/119/bills/s148/BILLS-119s148is.pdf |
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