House Speaker Paul Ryan's A Better Way policy agenda states that "it is time for serious and fundamental reform" of how regulations are made. The House of Representatives is considering a number of bills that would transform the processes by which agencies—particularly the federal financial regulatory agencies—promulgate regulations. The following slides compare key provisions of six recent regulatory reform bills, with a focus on how these bills would:
- require agencies to consider the costs and benefits of new and existing regulations;
- eliminate Chevron and Auer deference to agency interpretations of law; and
- require Congressional approval before major regulations can take effect.