“A bill to establish a task force for regulatory oversight and review.”
No CRS summary available for this bill.
This section establishes the Regulatory Oversight and Review Task Force, chaired by the Director of the Office of Management and Budget and composed of one representative from the Office of Information and Regulatory Affairs plus 16 private-sector members with expertise in regulatory policy, compliance, economics, law, or business management (four appointed by each congressional leader not later than 30 days after enactment). At least two private-sector members per appointing authority must represent small business concerns (as defined in 15 U.S.C. 632), and no more than two per group may be affiliated with the same political party. Task Force members receive no compensation and must consult the Government Accountability Office. The Task Force evaluates federal regulations that (1) inhibit U.S. industry competitiveness; (2) create barriers to entry for U.S. businesses, entrepreneurs, and startups; (3) increase domestic manufacturing costs; (4) impose substantial compliance burdens; (5) create lengthy permitting processes; (6) impact U.S. energy production; (7) restrict domestic mining, including critical minerals; or (8) inhibit capital formation. It establishes a public website; requires federal agencies to provide information; solicits written recommendations (published in the Federal Register, on its website, and regulations.gov) and conducts public outreach with focus groups; and reviews submissions for inclusion in reports. Not later than 15 days after its first meeting, the Task Force initiates the recommendations process. It submits quarterly and annual reports to Congress analyzing targeted regulations and recommending modifications, consolidation, harmonization, or repeal. Annually, on or after May 1, the OMB Director submits a special message on behalf of the Task Force recommending regulations for repeal via expedited joint resolutions.