Reclaim the Reins Act

HR 3058, the Reclaim the Reins Act, requires federal agencies to submit detailed reports for regulations that increase government revenue, including budget impacts, job effects, and cost analyses. It mandates that such rules cannot take effect without Congress approving them via a joint resolution within 60 days of receiving the report. The bill also creates annual reviews for existing rules, requiring agencies to designate 20% of current rules for review and setting a 5-year sunset for rules not approved by Congress. This directly affects federal agencies issuing revenue-increasing regulations and changes how Congress can block or approve these rules before implementation.