Executive Action Reviews -- Passage HR 277

Passage of the bill, as amended, that would require congressional approval of a joint resolution to implement any "major rule" that has or is likely to result in an annual economic effect of at least $100 million; a major increase in costs or prices; or significant adverse effects on U.S. competition, employment, productivity or international competitiveness. It would exempt from the bill’s requirements any rule issued by the Federal Reserve Board of Governors or the Federal Open Market Committee. The bill would allow a major rule to go into effect without congressional approval for a 90-day period if the president determines by executive order that such rule is necessary because of an imminent threat or emergency, necessary for national security or the enforcement of criminal laws, or if the rule has been issued to implement an international trade agreement. If a joint resolution of approval for a major rule is not enacted within 70 legislative days, it would prohibit consideration of a joint resolution of approval for the same rule for the duration of the Congress.