Regulation Decimation Act

This bill requires federal agencies to repeal 10 existing rules before issuing new regulations, with major rules needing to cost no more than the repealed rules. It applies to regulations imposing costs on businesses, states, or local governments, but excludes internal agency policies or rules being made less burdensome. Agencies must report within 90 days on costly or outdated rules, and the President must submit a 5-year report on regulatory reductions. The law aims to reduce regulatory burden through mandatory rule replacement.