RED Tape Act of 2023

S 674, the RED Tape Act of 2023, requires federal agencies to repeal or amend at least two existing rules that impose financial or administrative costs on businesses or individuals before issuing a new rule with similar costs. Agencies must certify that the new rule’s cost does not exceed the combined cost of the repealed rules and publish all planned rule changes in the Unified Agenda. This directly affects agencies like the EPA or FDA when creating new regulations, aiming to reduce regulatory burdens by linking new rule issuance to prior rule removal. The bill applies only to rules adding costs, excluding internal agency policies or rules designed to reduce existing burdens.