Bill Sponsor
House Bill 968
117th Congress(2021-2022)
Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2021
Introduced
Introduced
Introduced in House on Feb 11, 2021
Overview
Text
Sponsor
Introduced
Feb 11, 2021
Latest Action
Feb 11, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
968
Congress
117
Policy Area
Government Operations and Politics
Government Operations and Politics
Primary focus of measure is government administration, including agency organization, contracting, facilities and property, information management and services; rulemaking and administrative law; elections and political activities; government employees and officials; Presidents; ethics and public participation; postal service. Measures concerning agency appropriations and the budget process may fall under Economics and Public Finance policy area.
Sponsorship by Party
Republican
North Carolina
Republican
Florida
Republican
Georgia
Republican
Pennsylvania
Republican
South Carolina
Republican
Virginia
Republican
Virginia
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2021

This bill establishes procedures and provides statutory authority to reduce the number of federal regulations. Specifically, it requires each agency to establish a regulatory reform task force chaired by a designated regulatory reform officer. Each task force must, among other duties (1) review each existing agency regulation; (2) estimate the potential cost savings of repealing or modifying each regulation; and (3) identify regulations that are appropriate for repeal, replacement, or modification based on cost, effectiveness, and impact on employment.

The bill further provides statutory authority for the executive order prohibiting agencies from issuing a new regulation with an economic impact of at least $100 million without identifying two regulations for repeal that will offset the cost of the proposed new regulation.

Agencies also must submit a list of all planned regulatory actions for inclusion in the semiannual Unified Agenda of Federal Regulatory and Deregulatory Actions, including (1) the estimated economic effect of each action, and (2) proposed deregulatory actions to offset the cost of each proposed new regulation. Additionally, the Office of Management and Budget must establish an annual regulatory budget for each federal agency that specifies the net allowable increase in regulatory costs for each agency during the next fiscal year.

Text (1)
February 11, 2021
Actions (2)
02/11/2021
Referred to the House Committee on Oversight and Reform.
02/11/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:46:48 PM