The purpose of the Reclaim the Reins Act is to enhance congressional oversight of federal agency rulemaking. This legislation aims to ensure that Congress has more control and transparency over the rules and regulations that agencies create, particularly those that have significant financial implications. Key provisions of the Act include new reporting requirements for agencies when they submit rules to Congress. Agencies must provide detailed information about the budgetary effects, costs, job impacts, and the legal authority for the rules they propose.