By a vote of 6-3, the Subcommittee on Regulatory Reform, Commercial and Antitrust Law passed H.R. 367, the Regulations from the Executive in Need of Scrutiny (REINS) Act. The bill now heads to the full House Committee on the Judiciary.
The REINS Act was introduced by Congressman Todd Young (R-IN9) and currently has 147 co-sponsors. It would require any federal rule or regulation with an economic impact of $100 million or more to come before Congress before an up-or-down vote before it could take effect.
"Regulatory reform is long overdue, especially at a time when our economy struggles to recover," said Young, who introduced the bill. "In order to spur growth and increase the incomes of middle class Americans, the role of the federal government should be to remove barriers to economic expansion. Unfortunately, we seem to see more barriers being placed than removed, largely because Congress has a tendency to pass vague legislation that results in federal agencies writing regulations to fill in the blanks. Too often those regulations are burdensome and too far removed from public scrutiny. The REINS Act would ensure that Americans affected by regulations could weigh in on regulations before they were enacted, and would remove the incentive for Congress to pass ambiguous legislation in the first place."
Indiana's 9th District includes all or parts of Brown, Clark, Crawford, Floyd, Harrison, Jackson, Johnson Lawrence, Monroe, Morgan, Orange, Scott, and Washington Counties in southeastern Indiana.