H.R. 1155 would establish a commission to review existing federal regulations and identify those that should be repealed to reduce the cost of regulations on the economy. In addition, the legislation would require agencies to review all regulations within 10 years. Finally, H.R. 1155 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. 1155 would cost $30 million over the 2016-2020 period to operate the commission. Because any changes to current regulations would be subject to future congressional action, CBO estimates that enacting the bill would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.
H.R. 1155 contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act and would impose no costs on state, local, or tribal governments.
