1. Short title This Act may be cited as the Protecting Taxpayers from Student Loan Bailouts Act . 2. Limitation on authority of Secretary of Education to propose or issue regulations and executive actions Part G of title IV of the Higher Education Act of 1965 ( 20 U.S.C. 1088 et seq. ) is amended by inserting after section 492 ( 20 U.S.C. 1098a ) the following: 492A. Limitation on authority of the Secretary to propose or issue regulations and executive actions (a) Draft regulations Beginning after the date of enactment of this section, a draft regulation implementing this title (as described in section 492(b)(1)) that is determined by the Secretary to be economically significant shall be subject to the following requirements (regardless of whether negotiated rulemaking occurs): (1) The Secretary shall determine whether the draft regulation, if implemented, would result in an increase in a subsidy cost. (2) If the Secretary determines under paragraph (1) that the draft regulation would result in an increase in a subsidy cost, then the Secretary may take no further action with respect to such regulation. (b) Proposed or final regulations and executive actions Beginning after the date of enactment of this section, the Secretary may not issue a proposed rule, final regulation, or executive action implementing this title if the Secretary determines that the rule, regulation, or executive action— (1) is economically significant; and (2) would result in an increase in a subsidy cost. (c) Relationship to other requirements The analyses required under subsections (a) and (b) shall be in addition to any other cost analysis required under law for a regulation implementing this title, including any cost analysis that may be required pursuant to Executive Order 12866 (58 Fed. Reg. 51735; relating to regulatory planning and review), Executive Order 13563 (76 Fed. Reg. 3821