RECS Act

Bill: 117-hr-2676
Sponsor: full_name: Rep. Bucshon, Larry [R-IN-8]
Introduced: 2021-04-20
Policy area: Commerce
Subjects: Congressional oversight

Economic performance and conditions

Federal Trade Commission (FTC)

Government information and archives

Government studies and investigations
Latest action: action_date: 2021-04-21
text: Referred to the Subcommittee on Consumer Protection and Commerce.

Summaries:
action_date: 2021-04-20
action_desc: Introduced in House
text: <p><b>Revealing Economic Conclusions for Suggestions Act or the RECS Act</b></p> <p>This bill requires the Federal Trade Commission (FTC), when submitting recommendations for legislation, to submit an accompanying economic analysis.</p> <p>The required analysis must demonstrate that (1) the FTC has identified a problem it determines should be addressed (including the FTC's rationale for determining that private markets or public institutions could not address this issue), and (2) the recommended legislation is based on a reasoned determination that the benefits of the recommended legislation outweigh its costs.</p>

tv_txt: I 117th CONGRESS 1st Session H. R. 2676 IN THE HOUSE OF REPRESENTATIVES April 20, 2021 Mr. Bucshon 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 recommendation of the Federal Trade Commission be accompanied by an economic analysis and include a description of the rationale for the recommended legislation.

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 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 legislation (including any legislation to provide the Commission with additional regulatory or enforcement powers) 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 legislation is based on a reasoned determination that the benefits of the recommended legislation outweigh its costs: Provided further , That the Commission .