Plain Language Summary
# SMART Act of 2025 Summary **What it does:** The SMART Act would require federal agencies to create and follow a framework for evaluating whether their major regulations actually work as intended. When agencies issue significant new rules, they must assess whether the rules achieve their stated goals, compare expected versus actual costs and benefits, and determine if the rules overlap with other regulations or have become outdated. This evaluation would happen on a timeline the agency sets in advance. **Who it affects:** The bill primarily targets federal agencies that create regulations affecting the economy. It would also indirectly affect businesses and industries subject to these rules, as the assessment process could lead to rules being modified, streamlined, or eliminated.
The bill focuses on "major rules"—those likely to have an annual economic impact of $100 million or more. **Current status:** The bill (S. 76) was introduced by Senator James Lankford (R-OK) in the 119th Congress and is currently in committee, meaning it has not yet been debated or voted on by the full Senate. The bill addresses regulatory procedures and economic competitiveness, touching on issues like inflation, trade, and how government rules affect business.
CRS Official Summary
Setting Manageable Analysis Requirements in Text Act of 2025 or the SMART Act of 2025This bill requires agencies, when publishing a proposed or final major rule, to include a framework for assessing whether the rule achieves its regulatory objective. An agency must assess a rule in the time frame included in the framework. The assessment must compare the rule's anticipated and actual benefits and costs.Additionally, the assessment must determine whether (1) the rule has been rendered unnecessary because of changes to the subject area affected by the rule or it overlaps with, duplicates, or conflicts with other rules, or state and local government regulations; (2) the rule should be expanded, streamlined, or otherwise modified to accomplish the rule's objective; and (3) other alternatives or modifications to the rule could better achieve the rule's objective. The bill defines a major rule as a rule likely to cause (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, health, safety, the environment, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.
Latest Action
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.