Article I Regulatory Budget Act

Bill 118 hr 261, also known as the Article I Regulatory Budget Act, is a piece of legislation introduced in the US Congress. The main purpose of this bill is to establish a regulatory budget for federal agencies.

The regulatory budget would set limits on the amount of regulatory costs that federal agencies can impose on the economy each year. This would help to ensure that regulations are not overly burdensome on businesses and individuals, while still allowing for necessary regulations to protect public health, safety, and the environment.

The bill also includes provisions for the establishment of a Regulatory Budget Office within the Office of Management and Budget. This office would be responsible for overseeing the implementation of the regulatory budget, as well as conducting cost-benefit analyses of proposed regulations. Overall, the Article I Regulatory Budget Act aims to promote transparency and accountability in the regulatory process, while also ensuring that regulations are effective and efficient. It is currently being debated in Congress, with supporters arguing that it will help to streamline the regulatory process and reduce unnecessary red tape, while opponents raise concerns about potential impacts on public health and safety.