Economic and Employment Impact Act of 1992

Economic and Employment Impact Act of 1992 - Directs the Comptroller General to prepare an economic and employment impact statement to accompany each bill, resolution, or conference report before it may be reported or otherwise considered on the floor of either House of Congress. Requires such statement to: (1) state the extent to which enactment of such legislation would result in increased costs to the private sector, individuals, or State and local governments; and (2) include a detailed assessment of the annual impact of such legislation on consumer and business costs, employment, the Gross Domestic Product, and other specified criteria. Provides that such statement may consist of a brief summary assessment in lieu of such detailed assessment if preliminary analysis indicates that the aggregate effect of the legislation as measured by such criteria is less than $10,000,000 or the loss of 1,000 jobs in national employment. Authorizes the Congress to waive the requirements of this paragraph at any time in which a declaration of war is in effect, or in response to a national security emergency at the request of the President.

Makes it a point of order in either House of Congress to consider any legislation that does not include such a statement. Allows such point of order to be waived.

Requires each regulation and proposed regulation promulgated by an executive department or agency to be accompanied by such a statement prepared by the department or agency. Requires such statement to be published in the Federal Register together with such regulation or proposed regulation. Authorizes the President to waive the requirements of this paragraph at any time in which a declaration of war is in effect, or in response to a national security emergency.

Amends rule XXVI of the Standing Rules of the Senate to repeal provisions concerning congressional committee reports accompanying bills and resolutions.