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S973119th CongressWALLET

LIBERATE Act

Sponsored By: Senator Lee, Mike [R-UT]

Introduced

Summary

Creates a new Regulatory Oversight and Review Task Force that would hunt for federal rules the bill says block competition, slow permitting, hurt energy and mining, or limit capital formation. It also sets a fast congressional path to repeal regulations the Task Force flags.

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Fast congressional repeal for regulations

This bill would create an expedited process for Congress to repeal regulations the Task Force lists. By the first 60 calendar days after the Task Force special message, Congress would have to complete action on a covered resolution that only lists and repeals those regulations. Committees would be discharged if they do not report within 25 calendar days. In the House debate would be limited to 2 hours with no amendments. In the Senate the covered resolution could get up to 10 hours of debate and only amendments that add or remove items from the list would be allowed.

New federal task force to review rules

This bill would create a Regulatory Oversight and Review Task Force at OMB. The OMB Director would chair and the Task Force would include one OIRA representative and 16 private‑sector members. The 16 private members would be appointed by four congressional leaders (four each), and the President would make the formal appointments within 30 days after enactment. Appointees would need regulatory, legal, economic, or business expertise and at least two per appointing leader would represent small businesses. Members would not be paid. The Task Force would start taking written recommendations within 15 days after its first meeting, keep a public website and portal, publish submissions, consult GAO, request documents from agencies, and send quarterly and annual reports to Congress recommending rule changes.

Sponsors & CoSponsors

Sponsor

Lee, Mike [R-UT]

UT • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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