A bill to establish a method whereby the Congress may assure a more effective use of tax dollars.

States that whenever any officer in the executive branch of the Federal Government proposes to prescribe any rule or regulation, or change any existing rule or regulation, such rule or regulation must be submitted to each House of Congress together with a report containing a full explantion thereof.

Provides that no such rule shall become effective if the Congress disapproves it within a sixty-day period.

Specifies that the provisions of this Act shall not apply to regulations dealing with national security, foreign affairs, agency management, or personnel matters.