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With less than 50 days left, the Obama administration is pushing through as many regulations as possible. Fortunately, President-elect Trump and a unified Republican Congress have a powerful tool to repeal many of these last minute regulations. This tool, known as the Congressional Review Act (CRA), empowers Congress to review newly issued regulations and repeal them through the passage of a joint resolution.

The issuing of numerous, burdensome regulations is a cornerstone of the Obama administration. This year alone, the administration has issued an average of 2.2 rules per day. These regulations have led to billions of dollars in costs for Americans and small businesses.

Congress cannot repeal a majority of the Obama administration’s regulations under CRA, but it can undo the most recent ones. Under the CRA, Congress has 60 legislative days to disapprove the regulation, meaning that once the 115th Congress takes office in January certain last minute regulations enacted by the Obama administration can be undone.

What about two of the biggest parts of President Obama’s regulatory legacy, Dodd-Frank and Obamacare? While most of these regulations have already been implemented and must be repealed through Congressional legislation, certain Dodd-Frank regulations have been issued that fall under the 60-day window for CRA. A recent study published by the American Action Forum (AAF), highlights nine costly Dodd-Frank regulations that fall within this 60-day window.

Here are the nine regulations that could be repealed under CRA:



Cost (in millions)

Paperwork Hours

Disclosure of Payments by Extraction Issuers





Standards for Clearing Agencies




Data from Swap Data Repositories




Dissemination of Swap Information




Recordkeeping for Orderly Liquidation




Verification of Swap Transactions




Amendments to Swap Data Recordkeeping




Margin Requirements for Uncleared Swaps




Capital Requirements for Swap Entities





$1.7 billion in costs