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(c) ANALYSIS OF PERMANENT JOINT COMMITTEE ON 
RULES REVIEW.—The Joint Select Committee shall ana-
lyze the feasibility of the creation of a permanent Joint 
Committee on Rules Review. The Joint Committee on 
Rules Review would— 
(1) review each proposed rule that an agency 
determines is likely to have an annual effect on the 
economy of $50,000,000 or more before the agency 
promulgates the final rule; 
(2) require each agency to submit to the Com-
mittee— 
(A) the text of each proposed rule of the 
agency described in paragraph (1); and 
(B) an analysis of the economic impact of 
the rule on the economy; 
(3) require each agency to revise a proposed 
rule submitted under paragraph (2) if the Com-
mittee determines that the proposed rule— 
(A) needs to be significantly rewritten to 
accomplish the intent of the agency or address 
the recommendations or objections of the Com-
mittee; 
(B) is not a valid exercise of delegated au-
thority from Congress; 
(C) is not in proper form; 
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(D) is inconsistent with the intent of Con-
gress with respect to the provision of law that 
the proposed rule implements; or 
(E) is not a reasonable implementation of 
the law; 
(4) delay the effective date of a proposed rule 
for a period of not more than 1 year beginning on 
the date on which the agency submits the proposed 
rule under paragraph (2); 
(5) allow an agency to promulgate a final rule 
without any delay in the effective date of the rule if 
the agency designates the rule as an emergency rule, 
unless the Committee by majority vote determines 
that the rule is not an emergency rule; and 
(6) if applicable, recommend that Congress 
should overturn a final rule promulgated by an 
agency by enacting a joint resolution of disapproval. 
SEC. 4. COMPOSITION OF JOINT SELECT COMMITTEE. 
(a) MEMBERSHIP.— 
(1) IN GENERAL.—The Joint Select Committee 
shall be composed of 30 members, of whom— 
(A) 15 shall be appointed by the majority 
and the minority leaders of the Senate from 
among Members of the Senate in a manner that 
reflects the ratio of the number of Members of 
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the Senate from the majority party to the num-
ber of Members of the Senate from the minority 
party on the date of enactment of this Act; and 
(B) 15 shall be appointed by the Speaker 
and the minority leader of the House of Rep-
resentatives among Members of the House of 
Representatives in a manner that reflects the 
ratio of the number of members of the House 
of Representatives from the majority party to 
the number of Members of the House of Rep-
resentatives from the minority party on the 
date of enactment of this Act. 
(2) DATE.—The appointments of the members 
of the Joint Select Committee shall be made not 
later than 30 days after the date of adoption of this 
concurrent resolution. 
(b) VACANCIES.—Any vacancy in the Joint Select 
Committee shall not affect its powers, but shall be filled 
in the same manner as the original appointment. 
(c) CHAIRPERSON AND VICE CHAIRPERSON.— 
(1) CHAIRPERSON.—The members of the Joint 
Select Committee shall elect a Chairperson for the 
Joint Select Committee by majority vote from each 
of— 
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(A) the members of the majority party of 
the Senate; and 
(B) the members of the majority party of 
the House of Representatives. 
(2) VICE CHAIRPERSON.—The members of the 
Joint Select Committee shall elect a Vice Chair-
person for the Joint Select Committee by majority 
vote from each of— 
(A) the members of the minority party of 
the Senate; and 
(B) the members of the minority party of 
the House of Representatives. 
(d) QUORUM.—A majority of the members of the 
Joint Select Committee each from the Senate and the 
House of Representatives shall constitute a quorum for 
the purpose of conducting the business of the Joint Select 
Committee. 
SEC. 5. RULES AND PROCEDURES. 
(a) GOVERNANCE UNDER STANDING RULES OF THE 
SENATE.—Except as otherwise specifically provided in 
this resolution, the investigations and hearings conducted 
by the Joint Select Committee shall be governed by the 
Standing Rules of the Senate. 
(b) ADDITIONAL RULES
AND PROCEDURES.—The 
Joint Select Committee may adopt such additional rules 
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or procedures if the Chairperson and Vice Chairperson 
agree, or if the Joint Select Committee by majority vote 
so decides, that such additional rules or procedures are 
necessary or advisable to conduct the duties of the Joint 
Select Committee. 
SEC. 6. AUTHORITY OF JOINT SELECT COMMITTEE. 
(a) IN GENERAL.—The Joint Select Committee may 
exercise all of the powers and responsibilities of a com-
mittee under rule XXVI of the Standing Rules of the Sen-
ate. 
(b) POWERS.—The Joint Select Committee may, for 
the purpose of carrying out this resolution— 
(1) hold such hearings, sit and act at such 
times and places, take such testimony, receive such 
evidence, and administer such oaths as the Joint Se-
lect Committee considers advisable; and 
(2) authorize and require, by issuance of sub-
poena or otherwise, the attendance and testimony of 
witnesses and the preservation and production of 
books, records, correspondence, memoranda, papers, 
documents, tapes, and any other materials in what-
ever form the Joint Select Committee considers ad-
visable. 
(c) SUBPOENAS.—Subpoenas authorized by the Joint 
Select Committee— 
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(1) may be issued with the joint concurrence of 
the Chairperson and Vice Chairperson; 
(2) shall bear the signature of the Chairperson 
and Vice Chairperson, or the designee of the Chair-
person or Vice Chairperson; and 
(3) shall be served by any person or class of 
persons designated by the Chairperson and Vice 
Chairperson for that purpose anywhere within or 
without the borders of the United States to the full 
extent provided by law. 
(d) ACCESS
TO INFORMATION.—The Joint Select 
Committee shall have, to the fullest extent permitted by 
law, access to any such information or materials obtained 
by any other department or agency of the Federal Govern-
ment or by any other governmental department, agency, 
or body investigating the matters described in section 
3(b). 
(e) COOPERATION OF OTHER COMMITTEES.—In car-
rying out the duties of the Joint Select Committee, the 
Joint Select Committee may obtain the input and coopera-
tion of any other standing committee of the Senate or the 
House of Representatives. 
SEC. 7. REPORTS. 
(a) IN GENERAL.—Not later than 90 days after the 
date on which the Joint Select Committee terminates, the 
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