119-s148

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 148 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 148

 To prohibit the use of non-monetized or unqualified factors for 
 regulatory analyses, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 January 17, 2025

Ms. Ernst (for herself and Mr. Lankford) introduced the following bill; 
which was read twice and referred to the Committee on Homeland Security 
 and Governmental Affairs

_______________________________________________________________________

 A BILL

 To prohibit the use of non-monetized or unqualified factors for 
 regulatory analyses, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Regulations Evaluated to Determine 
The Anticipated Price and Effect Act'' or the ``RED TAPE Act''.

SEC. 2. FINDINGS.

 Congress finds that agencies must prioritize tangible, immediately 
quantifiable monetary benefits in their decision making processes, 
ensuring regulatory actions yield clear and measurable financial 
benefits to the public and private sectors while minimizing unnecessary 
regulatory costs or burdens.

SEC. 3. PROHIBITION ON NET BENEFIT DISCOUNTS; CONSIDERATION OF 
 REGULATORY IMPACT ANALYSES.

    (a) In General.--Chapter 6 of title 5, United States Code, is 
amended--

    (1) in 

section 601--
        (A) in paragraph

    (6) , by striking ``and'' at the 
 end;
        (B) in paragraph

    (7) , by striking the period at the 
 end and inserting a semicolon; and
            (C) by adding at the end the following:
 ``

    (8) the term `benefit-cost analysis' has the meaning 
 given the term in Office of Management and Budget Circular A-
 94, as revised on November 9, 2023, or any successor revision; 
 and
 ``

    (9) the term `regulatory impact analysis' means a 
 regulatory analysis described in--
 ``
        (A) Executive Order 12866 (5 U.S.C. 601 note; 
 relating to regulatory planning and review);
 ``
        (B) Executive Order 13563 (5 U.S.C. 601 note; 
 relating to improving regulation and regulatory 
 review);
 ``
            (C) Executive Order 14094 (88 Fed. Reg. 21879; 
 relating to modernizing regulatory review);
 ``
            (D) Office of Management and Budget Circular No. 
 A-4, as revised on November 9, 2023, or any successor 
 revision; or
 ``
        (E) Office of Management and Budget Circular No. 
 A-94, as revised on November 9, 2023, or any successor 
 revision.''; and

    (2) by adding at the end the following:
``

Sec. 613. Prohibition on use of non-monetized or unqualified factors 
 for regulatory analyses
 ``

    (a) Agency Prohibition.--An agency may not consider any non-
monetized or unquantified factor when conducting a regulatory impact 
analysis or benefit-cost analysis on any proposed rule, final rule, or 
interim final rule.
 ``

    (b) OMB Prohibition.--The Office of Management and Budget may 
not--
 ``

    (1) authorize in any manner, such as in issuing guidance, 
 a memorandum, a directive, or a rule that permit or endorse the 
 analysis or use of any non-monetized or unquantified factor 
 when conducting a regulatory impact analysis or benefit-cost 
 analysis on any proposed rule, final rule, or interim final 
 rule; or
 ``

    (2) consider any non-monetized or unquantified factor 
 presented in a regulatory impact analysis or benefit-cost 
 analysis of another agency.
 ``
            (c) Public Transparency.--Each agency shall publish in the 
Federal Register, with respect to and along with each proposed rule, 
final rule, or interim final rule--
 ``

    (1) a summary of each regulatory impact analysis and 
 benefit-cost analysis conducted by the agency;
 ``

    (2) the text of each regulatory impact analysis and 
 benefit-cost analysis conducted by the agency, including a 
 disclosure of the methodology and specific analyses used by the 
 agency in estimating economic impacts, and the determination 
 and rationale of such economic impact analyses; and
 ``

    (3) any additional information of the agency relevant to 
 the regulatory impact and benefit-cost analyses conducted by 
 the agency, such as the decision-making processes of the 
 agency.
 ``
            (d) Regulatory Guidance.--Not later than 90 days after the date 
of enactment of this section, the Director of the Office of Management 
and Budget shall issue revised guidance to agencies to ensure 
compliance with the provisions of this section.
 ``

    (e) Judicial Review.--
 ``

    (1) In general.--Any party affected by a rule issued by 
 an agency that considered a non-monetized or unquantified 
 factor when conducting a regulatory impact or benefit-cost 
 analysis in violation of this section may bring a civil action 
 against the agency to challenge the rule in a district court of 
 the United States.
 ``

    (2) Invalidation of regulation.--If the court finds that 
 an agency relied upon non-monetized or unquantified factors to 
 evaluate a final rule or interim final rule in contravention of 
 this section, the court shall declare the rule invalid.
 ``

    (3) Statute of limitations.--This subsection shall apply 
 with respect to any rule issued by an agency on or after 
 November 9, 2023.''.

    (b) Technical and Conforming Amendment.--The table of sections for 
chapter 6 of title 5, United States Code, is amended by adding at the 
end the following:

``613. Prohibition on use of non-monetized or unquantified factors for 
 regulatory analyses.''.

SEC. 4. EFFECTIVE DATE.

 The amendments made by 

section 3 shall take effect on the date that 
is 30 days after the date of enactment of this Act.
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