S. 3119 · 114th Congress
Reducing Excessive Government Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GardnerSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires Congress, within 60 days after the debt limit is increased or suspended, to enact legislation eliminating rules that results in a reduction of the direct cost of federal regulation during a specified 10-fiscal-year period by at least 15% of the amount of such increase.
What it does: CRS summary · Introduced in Senate · Jun 29, 2016
Reducing Excessive Government Act of 2016 or the REG Act
This bill requires Congress, within 60 days after the debt limit is increased or suspended, to enact legislation eliminating rules that results in a reduction of the direct cost of federal regulation during a specified 10-fiscal-year period by at least 15% of the amount of such increase.
If the debt limit is increased or suspended, each agency shall submit to the Senate, the House of Representatives, and the Government Accountability Office (GAO) a report identifying each major rule of the agency. (A major rule is defined as a rule that has or is likely to result in an annual effect on the economy of $100 million or more.) GAO shall subsequently submit a report evaluating whether agencies appropriately identified major rules.
Each House and Senate committee shall submit to the Committee on the Budget of its chamber a list of the major rules within the committee's jurisdiction that it recommends should be repealed. Each committee shall consider:
- whether the rule has been ineffective in achieving its purpose,
- adverse effects that could materialize if the rule is repealed,
- whether the costs of the rule outweigh its benefits, and
- whether the rule has become obsolete or overlaps with another rule.
The Budget Committees shall report a joint resolution carrying out all such recommendations without substantive revision. The bill provides for the expedited consideration of such a joint resolution. A repealed rule may not be reissued in substantially the same form.
If the Office of Management and Budget determines that legislation has not been enacted under this bill by the prescribed deadline, the public debt limit shall be equal to the sum of the face amount of obligations issued by the United States and the face amount of obligations whose principal and interest are guaranteed by the United States (except guaranteed obligations held by Treasury) outstanding on the date of the determination.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Reducing Excessive Government Act of 2016
Also known as: REG Act
Latest action (Jun 29, 2016): Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Policy area: Government Operations and Politics · Origin: Senate · Introduced: Jun 29, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.