Reforming and Consolidating Government Act of 2012 - Defines "efficiency-enhancing plan," for purposes of executive authority to reorganize federal agencies, as a reorganization plan that the Director of the Office of Management and Budget (OMB) determines will or is likely to result in a decrease in the number of agencies or cost savings in performing the functions that are the subject of the plan.
Expands executive authority to reorganize federal agencies by allowing: (1) the creation of a new executive department or the abolition or renaming of an existing department, (2) the consolidation of two or more departments, and (3) the creation of a new agency that is not a component or part of an existing executive department.
Allows a provision in a reorganization plan to take effect only if such plan is transmitted to Congress within two years of the enactment of this Act and is an efficiency-enhancing plan.