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Federal Regulatory Cost Control: New Rules for Agencies and Businesses

This act introduces new rules for assessing and controlling the costs that federal regulations impose on businesses and citizens. Agencies will be required to estimate these costs more accurately, and Congress will set limits on regulatory compliance expenditures. The goal is to increase transparency and potentially reduce financial burdens on private entities.
Key points
Federal agencies must now provide detailed estimates of new regulation costs for businesses, including small entities and individuals, and submit these to Congress.
Congress will establish annual caps on the total costs that federal regulations can impose on the private sector and local governments.
Control mechanisms will be implemented that could prevent regulations exceeding cost limits from taking effect, potentially impacting the scope and number of new rules.
Citizens and businesses will gain the ability to challenge regulations not introduced in compliance with the new cost assessment requirements.
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Expired
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Additional Information
Print number: 118_HR_261
Sponsor: Rep. Good, Bob [R-VA-5]
Process start date: 2023-01-10
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Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Article I Regulatory Budget Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_261.

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 2023-01-10.

What are the main provisions?

Key points include:

  • Federal agencies must now provide detailed estimates of new regulation costs for businesses, including small entities and individuals, and submit these to Congress.
  • Congress will establish annual caps on the total costs that federal regulations can impose on the private sector and local governments.
  • Control mechanisms will be implemented that could prevent regulations exceeding cost limits from taking effect, potentially impacting the scope and number of new rules.
  • Citizens and businesses will gain the ability to challenge regulations not introduced in compliance with the new cost assessment requirements.
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. Good, Bob [R-VA-5].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Courts and Law