Independent Regulatory Agency Reform Act

Independent Regulatory Agencies Reform Act - Provides that the term "independent regulatory agency" means the Civil Aeronautics Board, the Federal Power Commission, the Federal Communications Commission, the Federal Trade Commission, the Consumer Product Safety Commission, the Interstate Commerce Commission, the Securities and Exchange Commission, or any other agency which the Congress by law provides is an independent regulatory agency for purposes of this Act.

Provides that the President shall appoint the chairmen of the Civil Aeronautics Board, the Federal Communications Commission, the Federal Power Commission, the Federal Trade Commission, the Consumer Product Safety Commission, the Securities and Exchange Commission, and the Interstate Commerce Commission from among the members of such bodies by and with the advice and consent of the Senate, and that each such member shall serve in such capacity until the expiration of his term on such body.

Revokes the power of the President to remove for inefficiency a member of the Civil Aeronautics Board, the Federal Trade Commission, and the Interstate Commerce Commission.

Authorizes the President to remove for neglect of duty or malfeasance in office a member of the Federal Communications Commission, the Federal Power Commission, and the Securities and Exchange Commission.

Authorizes the Civil Aeronautics Board, the Federal Communications Commission, the Consumer Product Safety Commission, the Securities and Exchange Commission, the Interstate Commerce Commission, and the Federal Power Commission to act in its own name and through its own attorneys in any civil action and to supervise and conduct litigation in any civil action to which the Commission is a party.

Provides that any communication to Congress respecting legislation, by any independent regulatory agency, whether transmitted in its annual report or otherwise, shall not be submitted to or be subject to clearance by the Office of Management and Budget or any other authority.

Provides that an independent regulatory agency submits any budget estimate or request to the President or the Office of Management and Budget, it shall concurrently transmit a copy of that estimate or request to the Congress. Declares that no officer or agency of the United States shall have any authority to prohibit, impose conditions on, or in any way impair the free communication by such independent regulatory agency with the Congress, its committees, or any of its Members with respect to any budget estimate or request of such independent regulatory agency.

Provides for access to information held by such independent regulatory agencies by specified congressional committees.

Provides that the appointment of any person to the staff of an independent regulatory agency shall not be subject to approval by the office of the President, or the Office of Management and Budget.

Directs each independent regulatory agency to promulgate conflict of interest rules within 90 days of enactment of this Act.