New Bill: Representative Kat Cammack introduces H.R. 142: Regulations from the Executive in Need of Scrutiny Act of 2025

We have received text from H.R. 142: Regulations from the Executive in Need of Scrutiny Act of 2025. This bill was received on 2025-01-03, and currently has 79 cosponsors.

Here is a short summary of the bill:


The bill titled "Regulations from the Executive in Need of Scrutiny Act of 2025," aims to increase the accountability and transparency of the federal regulatory process. It proposes changes to how major rules created by federal agencies can take effect, specifically requiring congressional approval before these rules can become law. Below are the main points of what the bill entails:



Purpose



The purpose of the bill is to ensure that Congress retains control over important regulations and maintains accountability to the public for the laws imposed on them. It seeks to address concerns that Congress has delegated too much regulatory power to agencies without adequate oversight.



Major Definitions





  • Major Rule:

    A rule expected to have significant economic impact, which includes an annual effect on the economy of $100 million or more, major increases in consumer costs, or adverse effects on competition and job markets.



  • Nonmajor Rule:

    Any rule that does not meet the criteria for a major rule.



Congressional Review of Agency Rulemaking



The bill establishes a new process where federal agencies must provide comprehensive reports to Congress before a major rule can take effect. This includes:




  • A copy of the rule.


  • A general statement about the rule.


  • Classification of the rule as major or nonmajor.


  • Related regulatory actions.


  • Economic impacts and proposed effective date.



Approval and Disapproval Procedures





  • Major Rules:

    A major rule will not take effect unless Congress enacts a joint resolution of approval. If such a resolution is not passed within 70 legislative days, the rule will not take effect.



  • Nonmajor Rules:

    A joint resolution can be introduced to disapprove a nonmajor rule within 60 days of submission, and if a committee does not report on it, it can automatically be discharged from committee consideration.



Comptroller General's Reports



The Comptroller General of the United States will review major rules to ensure compliance with the new reporting requirements and to assess their economic impacts.



Judicial Review



The bill stipulates that determinations or actions made under this new chapter are generally not subject to judicial review, although courts can verify if procedural requirements have been met for a rule to effectuate.



Exceptions



Specific rules related to monetary policy proposed by the Federal Reserve would be exempt from these new procedures.



Study and Reporting Requirements



The Comptroller General must conduct a study within a year of the bill's enactment to assess the number and cost of rules that are currently in effect, reporting these findings back to Congress.



Relevant Companies



None found

This article is not financial advice. See Quiver Quantitative's disclaimers for more information.


This article was originally published on Quiver News, read the full story.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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