The LIBERATE Act would create the Regulatory Oversight and Review Task Force, a new entity within the Executive Office of the President led by the Director of the Office of Management and Budget (OMB). The Task Force would also include one representative from the Office of Information and Regulatory Affairs (OIRA) and 16 private-sector members balanced across Congress party leaderships. Its core mission is to identify federal regulations that hinder competition, raise costs, create entry barriers for businesses, impede energy or mining activity, or otherwise suppress U.S. economic performance, and to recommend modifications, consolidations, harmonization, or repeal. The act sets up a process for public input, requires regular reporting to Congress, and authorizes a special fast-track repeal mechanism (a joint-resolution "covered resolution") to repeal regulations listed by the Task Force, subject to expedited floor procedures in both chambers. In practice, the bill aims to systematically review federal rules with an emphasis on deregulation and economic competitiveness, while maintaining transparency and public engagement. It relies on public recommendations and GAO consultation, but it does not authorize new funding for the Task Force beyond existing OMB resources. The repeal mechanism creates a potentially rapid path for removing specific regulations through Congress, under tight procedural timing and constraints.
Key Points
- 1Establishment and membership: Creates the Regulatory Oversight and Review Task Force, chaired by the Director of the Office of Management and Budget, with one OIRA representative and 16 private-sector members (divided among Senate majority/minority leaders and House leadership), all with expertise in regulatory policy, economics, law, or business management; includes at least 2 small-business representatives per appointment group; maintains political balance (no more than two members from the same party within each appointment group); and members serve without compensation. Appointment to the Task Force must occur within 30 days of enactment.
- 2Scope of evaluation: The Task Force will evaluate federal regulations that adversely affect competitiveness, create barriers to entry, raise operating or compliance costs, impose lengthy permitting processes, affect energy or mining activity, or inhibit capital formation. It can recommend modification, consolidation, harmonization, or repeal of such regulations.
- 3Public input and transparency: The Task Force must establish a public-facing website to solicit written recommendations, accept submissions through multiple channels (including regulations.gov and mail), publish all recommendations in the Federal Register and on its website, and conduct broad public outreach and diverse focus groups to gather feedback.
- 4Reporting to Congress: The Task Force must issue quarterly and annual reports detailing its findings and recommending specific regulatory changes, including modifications, consolidations, harmonization, or repeal.
- 5Special repeal mechanism (covered resolutions): The Act creates a process for Congress to consider a joint resolution that immediately repeals listed regulations when enacted, provided Congress acts within 60 days of receiving the special message describing the repeal recommendations. It establishes detailed floor procedures in both the House and Senate to govern debate, amendments (limited to adding/removing regulations from the repeal list), and expedited handling, with specific timelines and procedural constraints to move a covered resolution to enactment.