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Federal Regulation Review: Task Force to Simplify Rules and Boost Economy

This Act establishes a Regulatory Oversight and Review Task Force to identify and recommend the modification or repeal of federal regulations that hinder competition, increase business costs (especially for small businesses), or restrict energy and mineral production. Citizens and businesses will be able to submit their feedback on burdensome regulations via a public website. If enacted, this could lead to reduced bureaucracy and potentially lower consumer costs due to increased market competition.
Key points
Establishment of a Task Force composed of government officials and 16 private sector experts (including small business representatives) to evaluate existing regulations.
The Task Force must identify regulations that harm competition, raise manufacturing costs, create barriers for startups, or restrict domestic energy and critical mineral production.
A public portal will be created for citizens and businesses to submit written recommendations for regulations that should be modified or repealed.
The Task Force will submit an annual special message to Congress listing regulations recommended for immediate repeal, utilizing a fast-track legislative procedure.
article Official text account_balance Process page
Expired
Citizen Poll
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Additional Information
Print number: 118_S_4920
Sponsor: Sen. Lee, Mike [R-UT]
Process start date: 2024-07-31
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

LIBERATE Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_4920.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2024-07-31.

What are the main provisions?

Key points include:

  • Establishment of a Task Force composed of government officials and 16 private sector experts (including small business representatives) to evaluate existing regulations.
  • The Task Force must identify regulations that harm competition, raise manufacturing costs, create barriers for startups, or restrict domestic energy and critical mineral production.
  • A public portal will be created for citizens and businesses to submit written recommendations for regulations that should be modified or repealed.
  • The Task Force will submit an annual special message to Congress listing regulations recommended for immediate repeal, utilizing a fast-track legislative procedure.
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 Sen. Lee, Mike [R-UT].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

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Economy Public Investments