Search people, articles, bills, and more
This bill matters because it fundamentally shifts the balance of power between the executive branch (federal agencies) and the legislative branch (Congress) regarding the creation of new regulations. Currently, agencies have significant authority to create rules to implement laws, with Congress primarily having the power to *disapprove* them. This bill would require Congress to *actively approve* any regulation estimated to have a major financial impact.
If this bill becomes law, it could significantly slow down the pace of new federal regulations, especially those with substantial economic costs. It could also lead to more political battles over specific rules, as congressional approval would be required. If it doesn't become law, the current system of agency rulemaking, with congressional review primarily through disapproval, would continue, meaning agencies would retain more independent authority in developing and implementing rules.
No reactions yet. Be the first to weigh in.
This bill matters because it fundamentally shifts the balance of power between the executive branch (federal agencies) and the legislative branch (Congress) regarding the creation of new regulations. Currently, agencies have significant authority to create rules to implement laws, with Congress primarily having the power to *disapprove* them. This bill would require Congress to *actively approve* any regulation estimated to have a major financial impact.
If this bill becomes law, it could significantly slow down the pace of new federal regulations, especially those with substantial economic costs. It could also lead to more political battles over specific rules, as congressional approval would be required. If it doesn't become law, the current system of agency rulemaking, with congressional review primarily through disapproval, would continue, meaning agencies would retain more independent authority in developing and implementing rules.
An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)