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Public Statements

Regulations from the Executive in Need of Scrutiny Act of 2011

Floor Speech

By:
Date:
Location: Washington, DC

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Mr. GIBSON. I thank the chairman.

I rise today in strong support of the REINS Act. This bill is about representative democracy, transparency, and accountability. The concept is simple: any new proposed regulatory rule written by the Federal bureaucracy that has an estimated economic impact greater than $100 million must first come here before the Congress for an up-or-down vote before implementation.

To get our economy moving, to create jobs, to strengthen the jobs we have now, and to raise the standard of living of all, we need to address the impediments to growth--taxes, regulations, health care costs, and energy costs. The simple truth is Federal regulations have increased the cost of doing business and contributed to job loss and stifled new job creation. Even the President has acknowledged this when he appeared in this Chamber to speak to the American people.

According to the Small Business Administration, Federal regulations cost our economy $1.75 trillion a year.

This negative impact is something small business owners, including farmers, have told me time and again as I have traveled across the 137 towns in my district. Something must be done. It really comes down to judgment. We want to get these key decisions right. It's about balancing competing priorities. In the process, certainly we want to hear the advice of our subject matter experts in the bureaucracy, but the decision should fall to the people's representatives who can be held accountable to them, not unelected, faceless bureaucrats.

It's far past time for some transparency and accountability. It's far past time for the REINS Act. I'm proud to be an original cosponsor of this bill, and urge my colleagues to join me in voting for it.

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