^®: CRE Regulatory Action of the Week

"Guidance on Compliance with the Congressional Review Act"
The U.S. Office of Management and Budget sent the above-titled Memorandum to the Heads of U.S. Executive Departments and Agencies. It reads in part as follows (footnotes omitted): "The Congressional Review Act (CRA), enacted in 1996, establishes a mechanism by which Congress is able to exercise direct oversight of Federal agency action in real time, consistent with its role as the sole constitutionally authorized legislative authority. This Memorandum reinforces the obligations of Federal agencies under the CRA in order to ensure more consistent compliance with its requirements across the Executive Branch. It also sets forth guidelines for analysis that the Office of Information and Regulatory Affairs (OIRA) will use to properly classify regulatory actions for purposes of the CRA."