Referred to the Committee on the Judiciary, and in addition to the Committee on Rules, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
The Reclaim the Reins Act significantly expands congressional oversight of federal agency regulations. The bill requires agencies to provide detailed reporting on new rules, including cost estimates, job impacts by industry, effects on inflation, and constitutional authority for the rules. It creates a new requirement that major rules increasing government revenue cannot take effect without explicit congressional approval through a joint resolution within 60 days, or they are automatically blocked. The bill also mandates that existing rules adopted in the final year of a presidential term receive additional congressional review in the next session, and requires federal agencies to submit at least 20 percent of their existing rules for congressional review annually over four years, with those rules automatically expiring after five years unless Congress approves them. The legislation appropriates $20 million ($10 million each to the Office of Management and Budget and the Government Accountability Office) through 2034 to implement these new review procedures and directs the Comptroller General to study the total economic cost of all federal rules currently in effect.
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