Regulatory Reform: Eliminating Unnecessary, Costly, and Outdated Federal Rules.
This bill establishes a process to identify and repeal federal regulations that are duplicative, obsolete, or impose excessive costs on businesses and citizens. Annually, the government must list these burdensome rules, allowing Congress to use an expedited procedure to consolidate or eliminate them. The goal is to reduce bureaucracy, lower compliance costs, and potentially boost economic growth and innovation.
Key points
Annual Review: The government must identify "major rules" that are outdated (unchanged for 10 years), overlapping, or excessively burdensome.
Criteria for Repeal: Rules will be targeted if their costs outweigh societal benefits, they harm competition, or they inhibit innovation and wage growth.
Fast-Track Repeal: Congress gains an accelerated procedure to vote on joint resolutions aimed at consolidating or completely repealing these unnecessary regulations.
Status:
Expired
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