Regulation Reduction Act of 2023

HR 3175, the Regulation Reduction Act of 2023, requires federal agencies to repeal two existing regulations before issuing a new rule, and three for "major rules" (those with significant economic impact). For major rules, the new rule's cost must not exceed the cost of the repealed rules, and the Office of Management and Budget must certify this. Agencies must also submit a 90-day review to Congress identifying costly, ineffective, duplicative, or outdated regulations. This bill directly affects federal agencies and the businesses, states, and local governments subject to federal regulations.