The House of Representatives approved H.R. 367, the Regulations from the Executive in Need of Scrutiny Act (REINS Act) by a vote of 232-183. The REINS Act curbs unnecessary major regulations from agencies and holds federal bureaucrats accountable for imposing the heaviest burdens on America's economy. The REINS Act specifically requires that federal agencies submit major regulations to Congress for approval; guarantees that no major regulation becomes effective until Congress approves it; and provides that a fast up or down vote occurs on major rules within 70 legislative days.
House Judiciary Committee Chairman Bob Goodlatte (R-Va.) praised today's vote by the House of Representatives.
Chairman Goodlatte: "Unnecessary regulation imposed by federal bureaucrats hinders job creation and hurts millions of Americans who struggle to secure full-time employment. In 2012 alone, unnecessary regulation imposed an estimated burden of $1.8 trillion, which adds up to approximately $15,676 per U.S. household. Americans simply cannot afford to pick up the tab of federal bureaucrats. Americans deserve an accountable regulatory system. The REINS Act frees Americans from unnecessary regulation and offers much-needed relief to the deep economic pain experienced by a growing number of American workers and families."
Key provisions of the REINS Act include the following:
* Requires agencies to submit major regulations to Congress for approval.
* Guarantees no major regulation becomes effective until Congress approves it.
* Guarantees fast up or down votes on major rules--Congress must act within 70 legislative days.
* Guarantees that accountability for imposing the heaviest burdens on America's economy falls where it should--with the people's elected representatives in Congress.