Regulations from the Executive in Need of Scrutiny Act of 2023

The Regulations from the Executive in Need of Scrutiny Act of 2023 would require Congress to approve most major federal regulations before they take effect. Major rules, defined as those with significant economic impact (estimated at $100 million or more annually), would need a joint resolution of approval from both chambers within 70 days. Agencies would be required to submit detailed reports to Congress before rules take effect, including cost-benefit analyses, economic effects, and other relevant information. This would increase congressional oversight of the regulatory process, though it includes exceptions for national security, emergencies, and monetary policy rules.