RED TAPE Act

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 572 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 572 To prohibit the use of non-monetized or unqualified factors for regulatory analyses, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 21, 2025 Mr. Sessions (for himself and Ms. Hageman) introduced the following bill; which was referred to the Committee on the Judiciary, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned _______________________________________________________________________ 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; (C) in paragraph (8)-- (i) by striking ``Recordkeeping Requirement.--T'' and inserting ``the''; and (ii) by striking the period at the end and inserting a semicolon; an