Streamlining Excessive and Costly Regulations Review Act

Bill 114 hr 2354, also known as the Streamlining Excessive and Costly Regulations Review Act, aims to address the issue of burdensome regulations that can hinder economic growth and innovation. The bill seeks to streamline the regulatory process by requiring federal agencies to conduct a cost-benefit analysis of proposed regulations and to identify and eliminate any regulations that are deemed to be excessive or unnecessary.

Under the provisions of the bill, federal agencies would be required to submit an annual report to Congress detailing the regulations that have been identified as excessive or costly, along with a plan for eliminating or modifying these regulations. The bill also establishes a Regulatory Review Commission, which would be responsible for overseeing the regulatory review process and ensuring that agencies are complying with the requirements of the bill.

Supporters of the bill argue that excessive regulations can stifle economic growth and innovation, and that streamlining the regulatory process will help to create a more business-friendly environment. Critics, however, have raised concerns that the bill could lead to the weakening of important regulations that protect public health and safety. Overall, the Streamlining Excessive and Costly Regulations Review Act is aimed at promoting regulatory efficiency and reducing unnecessary burdens on businesses. It remains to be seen how the bill will be received in Congress and what impact it will have on the regulatory landscape in the United States.