Today, Congresswoman Ann Marie Buerkle (NY25) stood up for business by supporting the Regulations from the Executive in Need of Scrutiny (REINS) Act, a key part of the House Republicans jobs agenda. With her support, the REINS Act now moves to the Senate for further action.
The Obama Administration issued 410 new major rules in its regulatory agendas for 2010 and 2011 -- four times the number of major rules than during the first two years of the previous administration.
The REINS Act will require Federal agencies to submit regulations with an annual economic impact of $100 million or more to Congress for approval. It guarantees that Congress must take an up-or-down, stand alone vote on all new major rules within seventy legislative days, and that no such rule will be effective until Congress approves it. With the REINS Act, accountability is placed in the hands of the people's elected representatives, rather than unelected agency officials.
"Regulations promoted by government agencies place tremendous burdens on businesses and industries, and hinder job creation. Too often, these regulations are ill-considered and unnecessary. They stifle American innovation and leave the economy stagnant," said Rep. Buerkle.
"The REINS Act will make certain that the impact any future proposed regulations will have on businesses is taken into consideration before a new rule is enforced. It guarantees accountability and transparency in the regulatory process, and ensures that we are working to support our job creators, not stand in their way."
The REINS Act passed with a vote of 241-184 and was supported by pro-business organizations including the Associated Builders & Contractors, National Taxpayers Union, and U.S. Chamber of Commerce,