Congressman Bob Gibbs released the following statement following bipartisan House passage of the Regulations from the Executive in Need of Scrutiny (REINS) Act, legislation introduced by Rep. Geoff Davis (R-KY) that will put a check on the Obama Administration's ability to impose excessive new rules from Washington that will have a significant impact on jobs and the economy:
"When I am out meeting with business owners in my district, the number one thing I hear is that complying with government regulations is the biggest problem they face today. They tell me repeatedly that the uncertainty created by the onslaught of new rules being handed down by Democrats in Washington leaves them full of apprehension and unwilling to take risks and invest capital in their business.
"While America's job creators are buried under a regulatory burden of around $1.75 trillion annually, President Obama said in his State of the Union Address that "[t]o reduce barriers to growth and investment... [w]hen we find rules that put an unnecessary burden on businesses, we will fix them." With another 224 major rules that will cost over $100 million each to our economy in the works, the REINS Act simply puts the President's words into action.
"The REINS Act forces Washington to take responsibility for the burdens it puts on the economy by bringing more accountability to the rule-making process and enhancing our system of checks and balances. While the Administration has issued executive orders in the past to circumvent the democratic process, Executive agencies will now have to present the rules they write to Congress for an up-or-down vote to ensure that unelected bureaucrats are following congressional intent as opposed to implementing their own ideology and beliefs.
"I want to thank Congressman Geoff Davis from Kentucky for introducing this legislation as it will be a huge step towards reining in the unchecked growth of the regulatory state, restoring economic certainty and creating a better environment for jobs."