An editorial in The Wall Street Journal has raised the profile of the new interpretation of the Congressional Review Act. The editorial board writes:
Trump Dams the Regulatory Flood
His executive order should change the bureaucratic incentives.
Meanwhile, the House this week will begin the job of repealing some of President Obama’s worst regulations. Republicans plan to rescind Mr. Obama’s midnight rules under the Congressional Review Act (CRA) that gives Congress an up-or-down vote on new rules. The House and Senate will vote on joint disapproval resolutions, which need only a majority before they are sent to the President.
On the chopping block is one EPA regulation related to streams that is estimated to threaten up to one-third of the remaining jobs in the coal industry. Another target is a Bureau of Land Management rule designed to undermine oil and gas fracking on federal land. A third is a Securities and Exchange Commission rule that forces U.S. companies to report payments to foreign governments, which can mean disclosing proprietary information that competitors can use against them.
The CRA is an exceptionally powerful reform tool, as our Kimberley Strassel reported last week. Amid the rush to pump out ever more rules, the Obama Administration may have failed to comply with many CRA mandates. The more the Trump Administration works with Congress to codify reform, the more durable the economic progress will be.
Read the full editorial.