Independent Regulatory Agencies Act

Independent Regulatory Agencies Act - Defines the term "independent regulatory agencies" as referring to the Civil Aeronautics Board, the Federal Communications Commission, the Federal Power Commission, the Federal Trade Commission, the Interstate Commerce Commission, and the Securities and Exchange Commission.

Requires the President to include in his annual budget message the estimated expenditures and proposed appropriations for the independent regulatory agencies.

Allows the "independent regulatory agencies" to conduct and argue their own cases before the Supreme Court.

Allows the CAB, FCC, FTC, and SEC to generally control their enforcement policies.

Provides that the above agencies recommendations made to Congress respecting legislation need no longer be cleared by the Office of Management and Budget.

Provides that the clearance power of the Office of Management and Budget of reports for law enforcement purposes of regulatory agencies is abolished.

Provides for the election of the following agency chairmans by the members of the appropriate Board or Commission: CAB, FCC, FPC, FTC, and SEC.