This bill amends chapter 8 of title 5 of the U.S. Code to require Congressional approval for "major rules" from federal agencies before those rules can take effect. Agencies must submit a report and supporting information (rule text, a short statement, classification as major or nonmajor, related actions, economic effects, and proposed effective date) to both Houses of Congress and the Comptroller General. The Office of Information and Regulatory Affairs (OIRA) defines a "major rule" to include rules with an annual economic effect of $100 million or more, or rules that cause major cost increases or significant adverse effects on competition, employment, investment, productivity, innovation, or international competitiveness. For major rules, Congress must enact a specific joint resolution of approval within a set number of session or legislative days (70 days) or the rule is deemed not approved and cannot take effect. Nonmajor rules follow a separate disapproval process. The bill allows the President to let a major rule take effect for one 90-calendar-day period in limited emergency situations (health or safety, criminal enforcement, national security, or certain trade obligations). It exempts Federal Reserve monetary policy rules and includes limited exceptions for certain hunting, fishing, camping, and "good cause" nonmajor rules. The bill also directs the Comptroller General (GAO) to study how many rules and major rules are in effect and to estimate their total economic cost, with a report due within one year. It adds a budget rule that treats budget effects of rules subject to the Congressional approval procedure as assumed effective unless the rule is not approved.
The bill requires a GAO study and changes how budgetary effects of certain rules are treated, but it does not provide cost estimates for implementing the bill or for its effects. No publicly available information on net costs or savings is included in the bill text.
The bill states its purpose is to increase accountability and transparency in the federal regulatory process. It says Congress has delegated too much legislative power over time and failed to keep adequate oversight. Proponents argue that by requiring a Congressional vote on major rules, legislation will be more carefully drafted, the regulatory process will improve, and the legislative branch will be more accountable to the public.
No publicly available information.