REINS Act vital to economic growth, reform
Rep. Phil Gingrey called for reducing red tape and eliminating job-killing regulations in a floor statement supporting the REINS Act. The REINS Act, which requires congressional approval for costly regulations, passed the House of Representatives today by a 232 to 183 vote.
Mr. Speaker, I rise today as a proud original cosponsor of H.R. 367, the Regulations from the Executive in Need of Scrutiny—or REINS—Act.Far too much authority has been delegated to federal agencies, leading to a lack of accountability and massive Executive overreach through regulation. According to current procedure, major rules promulgated by agencies take effect unless Congress passes and the President signs a joint resolution disapproving them under the Congressional Review Act. The Obama Administration has abused this process time and time again to bypass the legislative branch to regulate what it cannot legislate, with $50 billion in new rules proposed this year alone and the overall cost of the current regulatory burden coming in at $1.8 trillion.
At a time when nearly 12 million Americans are searching for work, the Obama Administration continues to burden the economy with cumbersome, bureaucratic regulations that harm small businesses and hamper economic growth. To make matters worse, this Administration has made a habit out of ignoring the legal obligation to transparency in the regulatory process. The constant flow of regulations has led to uncertainty and a lack of oversight, and Americans deserve a government that is truly accountable to the people.Mr. Speaker, H.R. 367 would restore Congressional accountability by requiring Congress and the President to approve major rules—those with an impact on the economy of more than $100 million—before they can be enforced, thereby allowing a means to stem the flow of unnecessary, complex, and ineffective regulations. Congress has the right and responsibility to exercise rigorous oversight over the rulemaking process to ensure that we reduce needless and excessive regulatory burdens, protect current jobs, and promote future growth.
I urge my colleagues to support H.R. 367, and I yield back.