Federal Rulemaking Revisions – Passage

Passage of the bill that would require independent agencies consult with the private sector and state and local governments when developing rules. It also would create a congressional point of order against legislation that includes private sector mandates and would require agencies to conduct retrospective analyses of existing rules at the request of congressional leaders. The bill also would limit to $550 million the amount the Consumer Financial Protection Bureau could request for fiscal 2016 from the Federal Reserve.

Note: A "nay" was a vote in support of the president's position.