Congressional Approval Required for Major Federal Regulations and Agency Transparency
This Act fundamentally changes how costly federal regulations are created, requiring every new, major rule (costing the economy over $100 million annually) to receive explicit Congressional approval before taking effect. This introduces greater political oversight over the bureaucracy and forces agencies to publish detailed cost and job impact analyses. Citizens gain increased transparency and the ability to challenge agencies that fail to follow these new procedures.
Key points
Major rules (costing > $100M) now require a positive joint resolution of approval from Congress to take effect, slowing down the regulatory process.
Agencies must publish detailed cost-benefit analyses and job impact assessments for every new rule.
All major regulations automatically expire after 10 years unless Congress votes to extend them.
A "Regulatory Budget" is established, requiring agencies to offset the costs of new rules by eliminating existing ones.
Status:
Expired
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