Congressman Raúl Labrador (ID-01) voted in favor of the Regulations from the Executive in Need of Scrutiny (REINS) Act, H.R. 10, today. The bill, sponsored by Rep. Geoff Davis (KY-04), passed the U.S. House of Representatives today by a vote of 240 to 183.
If passed by the U.S. Senate and signed into law by President Obama, the legislation would require Congress to approve "major rules of the executive branch before they may take effect." These "major rules" would be any regulations that would result in an annual effect on the economy of $100 million or more; a major increase in costs or prices; or a significant adverse effect on competition, employment, investment, productivity, innovation or U.S. competitiveness.
"While our uncertain and unfriendly tax structure remains a great deterrent to job creation and economic stabilization, excessive regulatory burdens often go unnoticed by the general public, but not by the businesses who must comply with them," Labrador said. "Federal Agencies, housed in Washington, D.C. and made up of unelected civil servants, such as the Department of Agriculture, Environmental Protection Agency, Occupational Safety and Health Administration and Mine Safety and Health Administration are pushed by the president to impose federal regulations on employers and individuals in Idaho according to his agenda without Congressional oversight. The REINS Act would provide the necessary accountability of the executive branch as it uses government agencies to create and enforce burdensome regulations for America's job creators."
According to the Government Accountability Office, 1,827 rulemaking proceedings during the first half of Fiscal Year 2011 alone were "significant," "substantive" or "major," as each had an anticipated economic impact of at least $100 million annually. The Competitive Enterprise Institute estimates that "regulatory costs of $1.752 trillion absorb 11.9 percent of the U.S. Gross Domestic Product (GDP) at $14.649 trillion." In 2010, the Federal Register reached a record length of 81,405 pages.
"During my eight-hour-long jobs forum in Boise last month, we asked job creators from more than 20 Idaho businesses what we could do to encourage them to start hiring again. The consensus was that a combination of tax reform and regulatory reduction would stabilize our economy and help them create jobs," Labrador said. "The REINS Act is a step in the right direction to begin easing the burdens foisted by government onto America's job creators."