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Managing Regulatory Costs: New Rules for Federal Agencies

This Act introduces new rules for managing federal regulatory costs, requiring agencies to repeal old regulations when issuing new significant ones. The goal is to reduce financial burdens on citizens and businesses by establishing an annual regulatory budget and requiring costs to be offset.
Key points
Federal agencies will need to identify at least two old regulations for repeal to introduce one new significant regulation.
An annual regulatory budget will be established, setting a limit on regulatory costs for each agency.
Each agency will designate a Regulatory Reform Officer and a Task Force to review existing regulations regarding their costs and utility.
The reform process is to be transparent, allowing citizens and businesses to submit comments on regulations that should be changed or repealed.
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Additional Information
Print number: 117_HR_968
Sponsor: Rep. Budd, Ted [R-NC-13]
Process start date: 2021-02-11
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OFFICIAL LEGAL TITLE

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

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_968.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-02-11.

What are the main provisions?

Key points include:

  • Federal agencies will need to identify at least two old regulations for repeal to introduce one new significant regulation.
  • An annual regulatory budget will be established, setting a limit on regulatory costs for each agency.
  • Each agency will designate a Regulatory Reform Officer and a Task Force to review existing regulations regarding their costs and utility.
  • The reform process is to be transparent, allowing citizens and businesses to submit comments on regulations that should be changed or repealed.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Budd, Ted [R-NC-13].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Oversight and Reform.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Economy Courts and Law