U.S. House passes regulatory reform bill

Today the U.S. House of Representatives passed the Regulations from the Executive in Need of Scrutiny (REINS) Act (H.R. 427) by a vote of 243 to 165.  I have said on many occasions that Congress needs to rein in the power of unelected federal bureaucrats to implement regulations that are not subject to approval by elected officials who are accountable to the voters.  This appears to be a step in the right direction. 

Congressman David Rouzer (R-NC7), who represents Brunswick County, issued the following statement after voting for the bill:  “Our Founding Fathers understood that it is dangerous for any branch of government to have unchecked power.  The REINS Act would require executive agencies to submit every new major rule to Congress for final approval.  This would re-assert Congress’s oversight authority as established in the Constitution.”

According to a press release from Congressman Rouzer’s office, under the REINS Act Congress would have 70 legislative days to approve a major rule with economic impact over $100 million, as certified by the Office of Management and Budget (OMB).  According to the Congressional Budget Office (CBO), last year federal agencies published 80 major rules; based on historical data, over the last five years, the average was 82 major rules per year.  A press release from Congressman Richard Hudson, who represents North Carolina’s 8th district, adds that federal regulations cost Americans $1.88 trillion in 2014 alone, with small businesses and manufacturers bearing the brunt of these costs.