RED TAPE Act

S 148, the RED TAPE Act, requires federal agencies to base regulatory impact analyses solely on quantifiable monetary costs and benefits, prohibiting consideration of non-monetized factors (like environmental or health impacts) in rulemaking. It mandates agencies to publish full methodology and results of these analyses in the Federal Register for public transparency. Affected parties can legally challenge rules violating this requirement in court, with courts able to invalidate such rules. The law applies to all new regulations issued after November 9, 2023, and takes effect 30 days after enactment.