To require the Director of the Office of Management and Budget to establish a limit for the total amount of additional unfunded regulatory costs that may be imposed in a fiscal year, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill establishes a comprehensive regulatory budgeting system requiring the Director of OMB to set annual caps on unfunded regulatory costs that federal agencies can impose, with Congressional approval required via joint. It relies on compliance mandates, reporting requirements, product standards, and exemptions. The main policy areas are Regulatory Reform, Finance, Healthcare, and Trade.
Who Benefits and How
Regulated industries across all sectors subject to federal regulations could face lower compliance burdens, Oil & gas industry facing environmental regulations could face lower compliance burdens, and Manufacturing sector facing environmental and safety regulations could face lower compliance burdens.
Who Bears the Burden and How
Office of Management and Budget (OMB) and OIRA would take on compliance duties, Federal regulatory agencies subject to regulatory budgeting limits (EPA, FDA, OSHA, SEC, FCC, DOL, etc.) would take on compliance duties, and Workers and labor unions who benefit from OSHA workplace safety regulations could face increased risk.
Key Provisions
- Establishes a comprehensive regulatory budgeting system requiring the Director of OMB to set annual caps on unfunded regulatory costs that federal agencies can impose, with Congressional approval required via joint...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill establishes a comprehensive regulatory budgeting system requiring the Director of OMB to set annual caps on unfunded regulatory costs that federal agencies can impose, with Congressional approval required via joint.
Key Policy Areas
Regulatory Reform, Finance, Healthcare, Trade
Primary Purpose
The bill establishes a comprehensive regulatory budgeting system requiring the Director of OMB to set annual caps on unfunded regulatory costs that federal agencies can impose, with Congressional approval required via joint.
Policy Domains
Section 2 - Regulatory Budgeting
Identified Gains
- Regulated industries across all sectors subject to federal regulations
- Oil & gas industry facing environmental regulations
- Manufacturing sector facing environmental and safety regulations
- Healthcare providers and pharmaceutical companies facing FDA regulations
- Financial services firms subject to SEC, CFTC, and banking regulations
Identified Costs
- Office of Management and Budget (OMB) and OIRA
- Federal regulatory agencies subject to regulatory budgeting limits (EPA, FDA, OSHA, SEC, FCC, DOL, etc.)
- Workers and labor unions who benefit from OSHA workplace safety regulations
- Environmental advocacy groups seeking stronger EPA regulations
- Consumer protection advocates seeking stronger product safety and financial regulations
Sponsors
Legislative Progress
IntroducedMr. Fallon (for himself, Mr. Comer, and Ms. Foxx) introduced …
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Federal regulatory agencies subject to regulatory budgeting limits (EPA, FDA, OSHA, SEC, FCC, DOL, etc.)
Office of Management and Budget (OMB) and OIRA
Regulated industries across all sectors subject to federal regulations
Manufacturing sector facing environmental and safety regulations
Financial services firms subject to SEC, CFTC, and banking regulations
Healthcare providers and pharmaceutical companies facing FDA regulations
Workers and labor unions who benefit from OSHA workplace safety regulations
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_director"
- → Director of the Office of Management and Budget
- "the_president"
- → President of the United States
- "head_of_an_agency"
- → Head of any federal agency as defined in 5 USC 551(1)
- "the_comptroller_general"
- → Comptroller General of the United States
- "the_associate_administrator"
- → Associate Administrator for Regulatory Budgeting within OIRA
Key Definitions
Terms defined in this bill
An unfunded regulatory cost that had not been required to be incurred by any individual or entity as a result of a Federal mandate imposed by rule on an individual or entity during any preceding fiscal year.
Has the meaning given that term in section 551(1) of title 5, United States Code (broadly covers executive agencies, departments, and independent regulatory commissions).
The Committee on Oversight and Government Reform of the House of Representatives and the Committee on Homeland Security and Governmental Affairs of the Senate.
A direct cost or a quantifiable cost that can be estimated using the methods and concepts described in Office of Management and Budget Circular A-4 issued on September 17, 2003.
The aggregate amount of all unfunded regulatory costs imposed during all preceding fiscal years.
The Director of the Office of Management and Budget.
Has the meaning given such term in section 551 of title 5, United States Code (includes agency statements of general or particular applicability and future effect).
A cost required to be incurred by an individual or entity as a result of a Federal mandate imposed by rule on an individual or entity.
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology