RED TAPE Act

This bill, known as the "RED TAPE Act," significantly alters how federal agencies conduct regulatory analyses by prohibiting the consideration of non-monetized or unquantified factors . It mandates that both agencies and the Office of Management and Budget (OMB) must prioritize tangible, immediately quantifiable monetary benefits and costs when performing regulatory impact or benefit-cost analyses for any new rule. The legislation aims to ensure that regulatory actions yield clear and measurable financial benefits while minimizing unnecessary costs. To enforce these restrictions, the bill requires agencies to publish comprehensive summaries and the full text of all regulatory impact and benefit-cost analyses in the Federal Register, including detailed methodologies and rationales. The Director of OMB must also issue revised guidance within 90 days to ensure agency compliance. Crucially, the bill establishes a robust judicial review process, allowing affected parties to challenge rules where prohibited factors were considered. If a court finds such a violation, it shall declare the rule invalid , a provision applicable to rules issued since November 2023.