REVIEW Act of 2023

HR 49, the REVIEW Act of 2023, requires federal agencies to delay implementing new rules that cost the economy over $1 billion annually. Specifically, agencies must submit such "high-impact rules" to the Office of Management and Budget for review before publication. The rule cannot take effect until after all judicial review challenges are resolved, unless no one challenges it within 60 days of publication. This directly affects federal agencies creating major economic regulations and delays their implementation to allow for legal scrutiny. The bill does not change existing judicial review timelines but adds a mandatory delay period for high-cost rules.