H.R. 2623, the Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act
Introduced by Rep. Mark Meadows (R-NC)
Co-sponsors: Rep. Jim Jordan, Rep. Paul Gosar, Rep. Ralph Norman, Rep. Mike Johnson, Rep. Bill Posey, Rep. Jody Hice, Rep. Mark Walker, Rep. Luke Messer, Rep. Dave Brat, Rep. Steven Palazzo, Rep. Ted Budd
Rep. Meadows Introduces Bill to Codify President Trump’s Regulatory Rollback
Rep. Mark Meadows (R-NC) has introduced the “Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act”—a bill that would mark a substantial legislative shift toward enacting President Trump’s agenda of reducing the size and scope of government.
In January of 2017, shortly after his inauguration, President Trump signed Executive Order 13771, titled "Reducing Regulation and Controlling Regulatory Costs.” The order directs agencies to repeal two existing regulations for each new significant regulation, and to do so in such a way that the total cost of regulations does not increase.
Rep. Meadows’ bill would codify the President’s directive into law. It would establish a system for easing out-of-date regulations off the books and requiring agencies to pursue smarter, more efficient regulatory action.
“This bill would be a significant step in reining in the out-of-control regulatory state in Washington and would yield lasting benefits to the operations of the Federal government and to the American people,” Rep. Meadows said. “By requiring agencies to remove more and more out-of-date and unnecessary regulations, we will not only shrink the size of government, but also force agencies to regulate more efficiently and effectively. Furthermore, the bill will play a critical role in jumpstarting our economy, as it encourages agencies to find savings before issuing new regulatory costs.
In this last election, the American people made it clear that they are tired of unelected bureaucrats in Washington regulating away their liberties. It’s time Republicans in Congress follow through on our promise to stop it.”
Read the full text of the bill here. For more resources, see below.
Section by Section
Letter: Manufactured Housing Association for Regulatory Reform
RELEASE: Rep. Meadows Introduces Bill to Codify President Trump’s Regulatory Rollback
RELEASE: Rep. Meadows Chairs Hearing on Regulatory Reform
RELEASE: Rep. Meadows’ Regulatory Reform Bill Passes Committee
RELEASE: Oversight Committee Passes Rep. Meadows' Regulatory Reform Bill
Blue Ridge Now: Unlocking the American dream
Forbes: Congress Can Strengthen Trump's Regulatory Reforms
FreedomWorks’ Bill of the Month for August 2017: Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act, H.R. 2623
R Street: Rep. Meadows Introduces Legislation to Lock In Regulatory Budgeting
Competitive Enterprise Institute: How Many Rules And Regulations Do Federal Agencies Issue?
Bloomberg Beyond the Hill: Republicans Want Regulatory Transparency Too