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H.R. 2676: RECS Act


The text of the bill below is as of Apr 20, 2021 (Introduced).


I

117th CONGRESS

1st Session

H. R. 2676

IN THE HOUSE OF REPRESENTATIVES

April 20, 2021

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.