Regulatory Commissions' Independence Act

Regulatory Commissions' Independence Act - Provides that an independent regulatory commission shall submit its budget estimates and requests directly to the Congress. States that concurrently, the commission shall transmit a copy of each such estimate or request to the President or the Office of Management and Budget. Requires that each such estimate or request shall reflect the independent judgement of the commission concerned and shall not be changed at the direction of the President, the Office of Management and Budget, or any other agency of the Government.

Stipulates that whenever any independent regulatory commission submits any legislative recommendations, or testimony, or comments on legislation to the President or the Office of Management and Budget, it shall concurrently transmit a copy thereof to the Congress. Provides that no officer, employer, or agency of the United States shall have any authority to require any independent regulatory commission to submit its legislative recommendation, or testimony, or comments on legislation, to any officer, employee, or agency of the United States for approval, comments, or review, prior to the submission of such recommendations, testimony, or comments to the Congress.

Authorizes the various independent regulatory commissions: (1) to act, in any civil action, in their own respective name and through their own attorneys, and (2) to supervise and conduct litigation in any civil action to which the Commission is a party.

Defines "independent regulatory commission" as including the Civil Aeronautics Board, the Federal Communications Commission, the Federal Maritime Commission, the Federal Power Commission, the Federal Trade Commission, the Interstate Commerce Commission, and the Securities and Exchange Commission.