[Congressional Record Volume 167, Number 87 (Wednesday, May 19, 2021)]
[Senate]
[Pages S3153-S3154]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 1649. Mr. LEE submitted an amendment intended to be proposed by 
him to the bill S. 1260, to establish a new Directorate for Technology 
and Innovation in the National Science Foundation, to establish a 
regional technology hub program, to require a strategy and report on 
economic security, science, research, innovation, manufacturing, and 
job creation, to establish a critical supply chain resiliency program, 
and for other purposes; which

[[Page S3154]]

was ordered to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. REDUCING REGULATION AND CONTROLLING REGULATORY 
                   COSTS.

       (a) Findings.--Congress finds the following:
       (1) It is the policy of the Federal Government to be 
     prudent and financially responsible in the expenditure of 
     funds, from both public and private sources.
       (2) In addition to the management of the direct expenditure 
     of taxpayer dollars through the budgeting process, it is 
     essential to manage the costs associated with the 
     governmental imposition of private expenditures required to 
     comply with Federal regulations.
       (3) Toward that end, it is important that for each new 
     regulation issued, not fewer than 2 prior regulations be 
     identified for elimination, and that the cost of planned 
     regulations be prudently managed and controlled through a 
     budgeting process.
       (b) Definitions.--In this section:
       (1) Agency.--The term ``agency'' has the meaning given the 
     term in section 551 of title 5, United States Code.
       (2) Director.--The term ``Director'' means the Director of 
     the Office of Management and Budget.
       (3) Executive order 12866.--The term ``Executive Order 
     12866'' means Executive Order 12866 (58 Fed. Reg. 51735; 
     relating to regulatory planning and review), as amended, or 
     any successor order.
       (4) Rule.--The term ``rule''--
       (A) has the meaning given the term in section 551 of title 
     5, United States Code; and
       (B) does not include--
       (i) any rule made with respect to a military, national 
     security, or foreign affairs function of the United States;
       (ii) any rule related to agency organization, management, 
     or personnel; or
       (iii) any other category of rule exempted by the Director.
       (c) Regulatory Cap.--
       (1) In general.--If an agency publicly proposes for notice 
     and comment or otherwise promulgates a new rule, the agency 
     shall identify not fewer than 2 existing rules to be 
     repealed.
       (2) Incremental cost.--For each fiscal year, the head of an 
     agency shall ensure that the total incremental cost of all 
     new rules, including repealed rules, to be finalized that 
     fiscal year is not greater than zero, except as provided by 
     the Director in specifying the total incremental cost 
     allowance for the agency under subsection (d)(4)(A).
       (3) Offset of new incremental costs.--
       (A) In general.--In furtherance of the requirement under 
     paragraph (1), an agency shall offset any new incremental 
     costs associated with a new rule by the elimination of 
     existing costs associated with not fewer than 2 prior rules.
       (B) Procedures.--An agency shall eliminate existing costs 
     associated with prior rules under subparagraph (A) in 
     accordance with subchapter II of chapter 5 of title 5, United 
     States Code, and any other applicable law.
       (4) Guidance.--
       (A) In general.--The Director shall provide the heads of 
     agencies with guidance on the implementation of this 
     subsection.
       (B) Contents.--The topics addressed by the guidance 
     provided under subparagraph (A) shall include--
       (i) processes for standardizing the measurement and 
     estimation of regulatory costs;
       (ii) standards for determining what qualifies as new and 
     offsetting rules;
       (iii) standards for determining the costs of existing rules 
     that are considered for elimination;
       (iv) processes for accounting for costs in different fiscal 
     years;
       (v) methods to oversee the issuance of rules with costs 
     offset by savings at different times or different agencies; 
     and
       (vi) emergencies and other circumstances that might justify 
     individual waivers of the requirements of this subsection.
       (C) Discretion of director.--The Director shall consider 
     phasing in and updating the guidance provided under 
     subparagraph (A).
       (d) Annual Regulatory Cost Submissions to Office of 
     Management and Budget.--
       (1) In general.--Beginning with the Regulatory Plans 
     required under Executive Order 12866 for fiscal year 2022, 
     and for each fiscal year thereafter, the head of an agency 
     shall--
       (A) identify, for each rule that increases incremental 
     cost, the offsetting rules described in subsection (c)(3); 
     and
       (B) provide the agency's best approximation of the total 
     costs or savings associated with each new rule or repealed 
     rule.
       (2) Inclusion in the unified regulatory agenda.--Each rule 
     approved by the Director during the process by which the 
     President establishes a budget under section 1105 of title 
     31, United States Code, shall be included in the Unified 
     Regulatory Agenda required under Executive Order 12866.
       (3) Limitation on issuance.--An agency may not issue a rule 
     if the rule was not included on the most recent version or 
     update of the published Unified Regulatory Agenda as required 
     under Executive Order 12866, unless the issuance of the rule 
     was approved in advance in writing by the Director.
       (4) Total incremental cost.--
       (A) Determination by omb.--During the process by which the 
     President establishes a budget under section 1105 of title 
     31, United States Code, the Director shall identify to 
     agencies a total amount of incremental costs that will be 
     allowed for each agency in issuing new rules and repealing 
     rules for the next fiscal year.
       (B) Prohibition.--An agency may not issue a rule during a 
     fiscal year that causes the agency to exceed the total 
     incremental cost allowance of the agency for that fiscal year 
     under subparagraph (A) unless approved in writing by the 
     Director.
       (C) Total regulatory cost.--The total incremental cost 
     allowance of an agency for a fiscal year may allow an 
     increase or require a reduction in total regulatory cost for 
     that fiscal year.
       (5) Guidance.--The Director shall provide the heads of 
     agencies with guidance on the implementation of the 
     requirements under this subsection.
       (e) General Provisions.--
       (1) Rule of construction.--Nothing in this section shall be 
     construed to impair or otherwise affect--
       (A) the authority granted by law to an agency, or the head 
     thereof; or
       (B) the functions of the Director relating to budgetary, 
     administrative, or legislative proposals.
       (2) No substantive right conferred.--This section does not 
     create any right or benefit, substantive or procedural, 
     enforceable at law or in equity by any party against the 
     United States, its departments, agencies, or entities, its 
     officers, employees, or agents, or any other person.
                                 ______