Bill 119 HR 710, also known as the "Regulatory Reform Act of 2021," aims to require federal agencies to repeal ten existing regulations for every new regulation they propose. The bill is designed to streamline the regulatory ...
process and reduce the overall burden of regulations on businesses and individuals.
Under the proposed legislation, federal agencies would be required to identify and repeal ten existing regulations that are outdated, unnecessary, or overly burdensome before they can implement a new regulation. This process is intended to ensure that new regulations are carefully considered and that the regulatory environment is not overly burdensome for businesses and individuals.
In addition to the requirement to repeal existing regulations, the bill also includes provisions to increase transparency and accountability in the regulatory process. Agencies would be required to provide detailed justifications for new regulations, including an analysis of the costs and benefits of the proposed regulation. This information would be made available to the public for review and comment before the regulation is finalized.
Overall, Bill 119 HR 710 seeks to promote a more efficient and effective regulatory process by requiring agencies to carefully consider the impact of new regulations and to eliminate outdated or unnecessary regulations. The bill is intended to strike a balance between protecting public health and safety and promoting economic growth and innovation.