RED TAPE Act

H.R. 572, the RED TAPE Act, would restrict how federal agencies conduct regulatory analyses. Specifically, the bill would prohibit agencies from using non-monetized or unqualified factors when analyzing the impacts of proposed regulations. This would affect the Office of Management and Budget (OMB) and other federal agencies that develop and implement regulations. The bill is currently under consideration by both the House Judiciary Committee and the House Small Business Committee. If enacted, this legislation could change how federal agencies evaluate and justify new regulations, potentially requiring more rigorous quantification of regulatory impacts. The bill addresses administrative law and regulatory procedures, with implications for how agencies conduct cost-benefit analyses and other regulatory assessments.