REG Budgeting Act of 2025

The REG Budgeting Act of 2025 establishes annual limits on federal agencies' "additional unfunded regulatory costs" - costs imposed on individuals or businesses by new rules without prior funding. Agencies must submit proposed limits to the Office of Management and Budget (OMB), which sets annual caps requiring Congressional approval for any limit allowing a net cost increase. Rules exceeding these limits cannot take effect without Congressional approval (via joint resolution), except for emergencies, national security, or international trade agreements. The bill also creates a new OMB position to oversee implementation and mandates annual reports to Congress on compliance.