RED TAPE Act
Sponsored By: Representative Sessions
Introduced
Summary
This bill would require regulatory analyses to rely only on _monetized and quantifiable factors_. It bars consideration of non-monetized or unquantified benefits or harms when estimating a rule's costs and benefits.
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Lawsuits allowed if rules use non-dollar factors
If enacted, any person affected by a rule that relied on non-monetized or unquantified factors could sue in federal court. If a court finds such reliance for a final or interim final rule, it would have to declare the rule invalid. This would apply to rules issued on or after November 9, 2023. The right to sue would start 30 days after enactment.
Agencies limited to dollar-only analyses
If enacted, agencies would be barred from using non-monetized or unquantified factors in rule analyses. This would cover proposed, final, and interim final rules. OMB would also be barred from allowing or using such factors in its reviews. The bill would tie these analyses to OMB Circulars A-4 and A-94 and key executive orders last revised on November 9, 2023. These changes would start 30 days after enactment.
Publish full cost analyses with rules
If enacted, agencies would have to publish a summary and the full text of each cost and impact analysis with every rule. They would need to show methods, estimates, and reasons for their decisions. OMB would have to issue guidance within 90 days after enactment to enforce these requirements. The disclosure rules would begin 30 days after enactment.
Sponsors & CoSponsors
Sponsor
Sessions
TX • R
Cosponsors
Hageman
WY • R
Sponsored 1/21/2025
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov