Federal Agency Control and Review Act

[AI summary unavailable — showing source text] Federal Agency Control and Review Act - Requires the Office of Management and Budget to conduct a study lasting one to two years of each Federal agency's efficiency and effectiveness. Requires that such report be submitted to the President and Congress. Authorizes the President to submit to Congress his recommendations with respect to such report. States that a report must have been concluded on all existing agencies within 12 years after the enactment of this Act and on all agencies within ten years after their creation. Requires that such study be repeated every ten years. Terminates such Federal agency ten years after the Office's report is submitted to Congress unless Congress adopts legislation to continue such agency.…