RED Tape Act of 2023

HR 1515, the RED Tape Act of 2023, requires federal agencies to repeal or amend two existing regulations that create new financial or administrative burdens on businesses or individuals before issuing a new regulation with similar or greater costs. Agencies must certify that the new rule's cost does not exceed the combined cost of the repealed rules. The bill applies to most agency rules, including those from executive orders or guidance documents, but excludes internal agency policies or rules meant to reduce existing burdens. This directly affects federal agencies when creating new regulations and indirectly impacts businesses and individuals subject to those regulations.