Increased Congressional Oversight of Federal Agency Regulations
This act enhances Congressional oversight of new regulations introduced by federal agencies. It means agencies will need to provide more detailed information on the impact of their rules on budgets, jobs, and inflation. Additionally, certain major revenue-increasing rules will require Congressional approval, potentially affecting how quickly changes impacting citizens are implemented.
Key points
Federal agencies must report detailed impacts of new rules on budgets, costs, jobs, and inflation.
Major rules that increase revenue will require Congressional approval, potentially delaying their implementation.
Rules issued in the final year of a President's term will face additional Congressional review.
Agencies will annually review and report on existing rules, with some potentially expiring if not approved by Congress.
Status:
Introduced
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