Regulatory Accountability and Economic Freedom Act of 2012
Latest action. Referred to the subcommitteeA smaller panel inside a standing committee with jurisdiction over a slice of its subject matter. Most hearings and the first markup usually happen here.Read the full definition (opens a new tab) on Courts, Commercial and Administrative Law.
Regulatory Accountability and Economic Freedom Act of 2012 - Revises criteria for the federal agency rule making process. Requires federal agencies proposing a rule to make all preliminary and final factual determinations based on evidence and to consider: (1) the legal authority under which a rule may be proposed, (2) the specific nature and significance of the problem the agency may address with a rule, (3) any reasonable alternatives for a new rule, and (4) the potential costs and benefits associated with potential alternative rules.
Requires agencies to publish in the Federal Register advance notice of proposed rule making for major rules, high-impact rules, and rules involving novel legal or policy issues. Defines "major rule" as any rule that is likely to impose: (1) an annual effect on the economy of $100 million or more, adjusted annually for inflation; (2) a major increase in costs or prices; (3) significant adverse effects on competition, employment, investment, productivity, innovation, or U.S. competitiveness; or (4) significant impacts on multiple sectors of the economy. Defines "high-impact rule" as any rule that is likely to impose an annual cost on the economy of $1 billion or more, adjusted annually for inflation.
Rewrites provisions for congressional review of agency rule making to require congressional approval of major rules before they may take effect (currently, major rules take effect unless Congress passes and the President signs a joint resolution disapproving them).
Sets forth House and Senate procedures for enacting joint resolutions approving major rules and disapproving non-major rules.
Establishes the United States Red Tape Reduction Commission to advise federal agencies on the modification, consolidation, or elimination of federal regulatory requirements to reduce direct or indirect burdens on U.S. businesses.
Written by analysts at the Congressional Research Service and published on Congress.gov, not by Civibrief. Summarized at the "Introduced in House" stage on March 1, 2012. It describes the bill, it is not the legal text.
Where is it in the process, and what happens next?
4 steps remain before this bill could become law.
The record's latest action, on March 6, 2012: Referred to the Subcommittee on Courts, Commercial and Administrative Law.
- Clearing the committees it was referred to, and being scheduled for a floor vote
- Passage by the House
- Passage by the Senate
- The President's signature. If the President vetoes it, two-thirds of both chambers must vote to override.
How likely is it to become law?
Civibrief does not forecast outcomes and this page has no opinion about this one. What the record supports is a base rate, which is a fact about the whole pile, not a prediction about this measure.
In the 112th Congress (2011-12), 283 of the 10,618 bills and joint resolutions introduced became law, about 2.7 percent. That count covers every measure at every stage, including the many that never left committee.
This one is not there yet: 4 steps are still outstanding, listed above.
Has anyone actually voted on it?
No. No roll call in this Congress cites this measure. That is the ordinary outcome: most measures never reach a recorded floor vote, and a committee ends most of them simply by not acting.
A vote is not the only thing that happens to a measure. Hearings, markups, and referrals are all recorded actions, and none of them is a vote of the full chamber.
Who is behind it?
TOM LATHAM (R-IA) introduced it on March 1, 2012. No cosponsors are recorded.
Cosponsoring is a formal signature on the text. It is not a commitment to vote for the measure, it does not bind anyone's party, and a long list of cosponsors is a measure of attention rather than of prospects.
How long has it been in play?
It was introduced on March 1, 2012, 5306 days ago. The most recent recorded action was 5301 days ago, on March 6, 2012.
Measures do not carry over. Anything the 112th Congress has not finished by January 3, 2013 dies when the term ends, and has to be introduced again from the start in the next Congress.
Every answer above is assembled from this measure's own record on Congress.gov and from published counts of what Congress has passed before. Civibrief does not predict outcomes and takes no position on any measure.
Vote history
- HouseIn committee, no floor vote yet
- SenateAwaits House passage
- PresidentAwaits both chambers