H.R. 998 would establish a commission to review existing federal regulations and to identify those that should be repealed to reduce the cost of regulations on the economy. In addition, the legislation would require agencies to create a plan to review all new regulations within 10 years of their issuance. Finally, H.R. 998 would authorize the appropriation of up to $30 million to fund the commission.
CBO estimates that, assuming appropriation of the specified amounts, implementing H.R. 998 would cost $30 million over the 2018-2022 period to operate the commission. CBO estimates that enacting the bill could affect direct spending or revenues; therefore, pay-as-you-go procedures apply. However, CBO cannot estimate the direction or magnitude of those effects.
CBO estimates that enacting H.R. 998 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2028.
H.R. 998 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act (UMRA) and would impose no costs on state, local, or tribal governments.
