Congressman Kevin McCarthy released the following statement after the House passed the Regulations from the Executive in Need of Scrutiny (REINS) Act (H.R. 10):
"America's small businesses are the engine of economic growth and job creation, and Washington shouldn't be making it more difficult for them to succeed. Under Democrat-controlled Washington, the federal government has become a factory of red tape. Imposing burdensome and costly regulations on small businesses in this economy defies all logic. Already, federal regulations cost the private sector $1.75 trillion every year, many of which are unnecessary and duplicative.
"The REINS Act is part of the House Republican jobs agenda and will put in place crucial reforms to our regulatory process. Currently there are 4,257 new regulations in the pipeline, and 219 of these new rules would each have an economic impact of more than $100 million annually. The REINS Act would put in place Congressional oversight of all proposed regulations deemed 'major rules' to ensure small businesses aren't being unduly burdened. I hope Senate Democrats will join the House in passing this bipartisan bill and help get more Americans working."