Regulations from the Executive in Need of Scrutiny Act of 2023

[AI summary unavailable — showing source text] Regulations from the Executive in Need of Scrutiny Act of 20 23 This bill revises provisions relating to congressional review of agency rulemaking. Specifically, the bill establishes a congressional approval process for a major rule. A major rule may only take effect if Congress approves of the rule. A major rule is a rule that has resulted in or is likely to result in (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises. The bill generally preserves the current congressional review process for a nonmajor rule.…