REVIEW Act of 2023

S 675, the REVIEW Act of 2023, requires federal agencies to delay implementing major regulations until after judicial review is complete. It defines "high-impact rules" as those potentially costing the economy $1 billion or more annually, mandating agencies submit such rules to the Office of Information and Regulatory Affairs (OIRA) for review before publication. Agencies must postpone a high-impact rule's effective date until all judicial review actions are resolved, unless no challenge is filed within 60 days of publication. This bill directly affects federal agencies creating significant economic regulations, adding a pre-implementation review step for major rules.