RECS Act

Bill: 114-hr-5136
Sponsor: full_name: Rep. Pompeo, Mike [R-KS-4]
Introduced: 2016-04-29
Policy area: Commerce
Subjects: Administrative law and regulatory procedures

Economic performance and conditions

Federal Trade Commission (FTC)

Government information and archives
Latest action: action_date: 2016-05-06
text: Referred to the Subcommittee on Commerce, Manufacturing, and Trade.

Summaries:
action_date: 2016-04-29
action_desc: Introduced in House
text: <p><b>Revealing Economic Conclusions for Suggestions Act or the RECS Act</b></p> <p>This bill amends the Federal Trade Commission Act to prohibit the Federal Trade Commission (FTC) from submitting legislative or regulatory recommendations without an economic analysis by the FTC's Bureau of Economics sufficient to demonstrate that: (1) the FTC has identified a problem it determines should be addressed, including the rationale for the FTC's determination that private markets or public institutions could not adequately address the issue; and (2) the recommendation is based on a reasoned determination that its benefits outweigh its costs.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 5136 IN THE HOUSE OF REPRESENTATIVES April 29, 2016 Mr. Pompeo introduced the following bill; which was referred to the Committee on Energy and Commerce A BILL To amend the Federal Trade Commission Act to require that any legislative or regulatory recommendation of the Federal Trade Commission be accompanied by an economic analysis and include a description of the rationale for such legislation or regulation.

1. Short title This Act may be cited as the Revealing Economic Conclusions for Suggestions Act or the RECS Act . 2. Requirement of analysis and rationale for legislative and regulatory recommendations Section 6(f) of the Federal Trade Commission Act ( 15 U.S.C. 46(f) ) is amended by inserting after That the Commission the following: shall not submit any recommendations for legislative or regulatory action without an economic analysis by the Bureau of Economics of the Commission sufficient to demonstrate that the Commission has identified a problem it determines should be addressed, including the rationale for the Commission’s determination that private markets or public institutions could not adequately address the issue, and that its recommended legislative or regulatory action is based on a reasoned determination that the benefits of the recommended action outweigh its costs: Provided further , That the Commission .