Regulation Decimation Act

The Regulation Decimation Act requires federal agencies to repeal at least ten existing regulations before issuing a new rule that affects businesses, states, or local governments. For major rules (those with significant economic impact), agencies must repeal ten related rules and ensure the new rule's cost does not exceed the cost of the repealed rules, with Office of Management and Budget certification. The law excludes internal agency policies and rules revised to reduce burdens, and mandates agencies to review all costly or outdated rules within 90 days of enactment, reporting on rule reductions to Congress every five years. This bill directly affects federal agencies creating new regulations, aiming to reduce regulatory burden through mandatory rule repeal.