Increased Congressional oversight of costly federal agency regulations.
This new law requires Congressional approval for federal agency rules estimated to cost at least $50 million annually. It aims to increase transparency and control over agency actions, potentially impacting economic stability and financial burdens on citizens and businesses.
Key points
All new, costly federal agency rules (over $50 million annually) will require Congressional approval before taking effect.
Agencies must provide detailed cost-benefit analyses, including impacts on jobs and inflation, before Congress considers approving rules.
Existing rules will be reviewed, and those not approved by Congress within 5 years will expire.
The act seeks to limit the impact of federal agencies on citizens' lives and the economy without explicit approval from elected representatives.
Introduced
Citizen Poll