(Sec. 2) States that the purpose of this Act is to increase accountability for and transparency in the federal regulatory process by requiring Congress to approve all new major regulations.
(Sec. 3) Revises provisions relating to congressional review of agency rulemaking to require a federal agency promulgating a rule to publish information about the rule in the Federal Register and include in its report to Congress and to the Government Accountability Office (GAO) a classification of the rule as a major or non-major rule and a complete copy of the cost-benefit analysis of the rule, including an analysis of any jobs added or lost, differentiating between public and private sector jobs. Defines "major rule" as any rule that is made under the Patient Protection and Affordable Care Act or that the Office of Information and Regulatory Affairs of the Office of Management and Budget finds has resulted in or is likely to result in: (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, federal, state, or local government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.
Requires a joint resolution of approval of major rules to be enacted before such rules may take effect (currently, major rules take effect unless a joint resolution disapproving them is enacted). Provides that if a joint resolution of approval is not enacted by the end of 70 session days or legislative days, as applicable, after the agency proposing the rule submits its report on such rule to Congress, the major rule shall be deemed not to be approved and shall not take effect. Permits a major rule to take effect for one 90-calendar day period without such approval if the President determines it is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement.Senator Tom Cotton supports it and hopes President Trump will sign the bill.
Cotton said in an interview that he supports the passage of a bill that would require an up-or-down vote from Congress on major agency regulations. Currently, those regulations automatically go into effect unless Congress explicitly votes override them. “I’d like him to sign that bill,” he said of Trump.So far all Republicans in the House (except four who didn't vote) approved of this legislation. Only two Democrats voted for it. Now it goes to the Senate.
Will Senate Republicans and President Trump support this brake on unelected bureaucratic control of the country? This is as important as keeping originalists in the majority on the Supreme Court. It is a much easier method of controlling authoritarian legal/political activism than the case by case method of the courts.
H/T John Fund