Regulatory Reduction and Congressional Control Act

Regulatory Reduction and Congressional Control Act - Title I: Congressional Review of Agency Rulemaking - Requires each Federal agency upon promulgating a rule to prepare, publish, and submit to Congress and the General Accounting Office (GAO): (1) a statement of the need of the rule; (2) a preliminary analysis of the economic impact of the rule; (3) an economic impact statement disclosing the costs and benefits expected to result from the rule; (4) estimates of the paperwork requirements imposed by the rule; and (5) estimates of the effects of the rule on the operation, workload, and efficiency of the Federal courts.

Makes it the responsibility of the Administrator of General Services to enforce prompt publication of such material.

States that any such rule shall not become effective if it is disapproved within 60 days by one House of Congress and no action is taken on the disapproval resolution by the other House.

Provides that either House of Congress may, by resolution, require any agency to reconsider and resubmit any rule to which this Act applies. Requires that such proposed rule be repromulgated anew in accordance with all the provisions of this Act unless it is reconsidered and resubmitted to Congress within 180 days after the adoption of the resolution requiring such reconsideration.

Directs the GAO to: (1) develop the methods of preparing the preliminary analysis and economic impact statement; and (3) determine whether the benefits of a rule exceed the costs and report its findings to Congress.

Title II: Joint Committee on Administrative Rules Establishment - Establishes, as a joint committee of Congress, the Joint Committee on Administrative Rules to review proposed and existing agency rules. Directs the committee to report to Congress a resolution of disapproval of a proposed rule or a resolution for reconsideration of an existing rule if estimated costs of the rule exceed its expected benefits, the rule conflicts with or duplicates another rule, or the rule is inconsistent with congressional intent.