Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2020
Latest action · Jun 1, 2020 Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJun 1, 2020
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2020
This bill establishes procedures and provides statutory authority to reduce the number of federal regulations. Specifically, it requires each agency to establish a regulatory reform task force chaired by a designated regulatory reform officer. Each task force must, among other duties (1) review each existing agency regulation; (2) estimate the potential cost savings of repealing or modifying each regulation; and (3) identify regulations that are appropriate for repeal, replacement, or modification based on cost, effectiveness, and impact on employment.
The bill further provides statutory authority for the executive order prohibiting agencies from issuing a new regulation with an economic impact of at least $100 million without identifying two regulations for repeal that will offset the cost of the proposed new regulation.
Agencies also must submit a list of all planned regulatory actions for inclusion in the semiannual Unified Agenda of Federal Regulatory and Deregulatory Actions, including (1) the estimated economic effect of each action, and (2) proposed deregulatory actions to offset the cost of each proposed new regulation. Additionally, the Office of Management and Budget must establish an annual regulatory budget for each federal agency that specifies the net allowable increase in regulatory costs for each agency during the next fiscal year.
Cosponsors
Members who signed on, in the order they did.
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Homeland Security and Governmental Affairs Committee | Referred Jun 1, 2020 |
Actions 2
Everything that happened, newest first.
- Jun 1, 2020Introduced in Senate
- Jun 1, 2020Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 575 | Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2019 | Related bill | Feb 25, 2019 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to provide for a method by which the economic costs of significant regulatory actions may be offset by the repeal of other regulatory actions, and for other purposes.
- Short Title(s) as Introduced
- Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act of 2020
Subjects
Assigned by the Library of Congress. Policy area: Government Operations and Politics.
Text 1
Each version as it was printed, newest first.
- Jun 1, 2020Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
