Revealing Economic Conclusions for Suggestions Act or the RECS Act
This bill requires the Federal Trade Commission (FTC), when submitting recommendations for legislation, to submit an accompanying economic analysis.
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.
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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Revealing Economic Conclusions for 
Suggestions Act'' or the ``RECS Act''.

SEC. 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''.
                                 <all>
RECS Act
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.
RECS Act
Revealing Economic Conclusions for Suggestions Act
Rep. Bucshon, Larry