RED TAPE Act

Bill 119 s 148, also known as the "Prohibition of Non-Monetized Factors in Regulatory Analyses Act," aims to prevent the use of non-monetized or unqualified factors in regulatory analyses conducted by the US Congress. The bill seeks to ensure that all regulatory decisions are based on sound economic principles and data, rather than subjective or unquantifiable factors.

If passed, this legislation would require all regulatory analyses to only consider factors that can be monetized or quantified in a meaningful way. This means that regulators would not be able to take into account factors such as social or environmental impacts that cannot be easily translated into monetary terms.

The bill also includes provisions for ensuring that regulatory analyses are conducted by qualified individuals with expertise in economics and data analysis. This is intended to prevent the use of biased or inaccurate information in regulatory decision-making. Overall, the goal of Bill 119 s 148 is to promote transparency and objectivity in the regulatory process, and to ensure that regulatory decisions are based on sound economic principles.