H.R.10, “Regulations from the Executive in Need of Scrutiny” ( the REINS Act), is a giant first step toward reining in the Executive Branch agencies where unelected and unaccountable bureaucrats have been enacting regulations that have not only become law, but have added a huge financial burden on our economy. This bill has passed the House and Senator Rand Paul (KY) has introduced the sister bill S.299 that has stalled in the Democrat-controlled Senate.
With my extensive experience in business, this is the type of common sense legislation that I, as your Senator, will fight to get through the Senate as soon as I arrive in Washington. In addition to this piece of legislation, I will introduce a bill designed to scrutinize regulations that have been put in place without Congressional approval, beginning with the most financially burdensome. Remember, there are 40 different agencies that have been piling on regulations for years, the cost of which continues to erode the manufacturing sector of our economy to the perilous state it is in today.
A recent study commissioned by the Small Business Administration found that annualregulatory compliance costs in the U.S. hit $1.75 trillion in 2008. That was 2008 and that number has risen dramatically under the Obama Administration over the last three years. This is a staggering figure that exceeds the total amount that was collected from income taxes that year ($1.449 trillion)!
The REINS Act requires Congress to take an up-or-down, stand-alone vote on any new proposed regulation, and for the President to sign-off on all new major rules before they can be enforced on the American people, businesses, or state and local governments.
Below is the detail of the bill as passed by the House:
This Act may be cited as the ‘Regulations From the Executive in Need of Scrutiny Act of 2011’.
The purpose of this Act is to increase accountability for and transparency in the federal regulatory process. Section 1 of article I of the United States Constitution grants all legislative powers to Congress. Over time, Congress has excessively delegated its constitutional charge while failing to conduct appropriate oversight and retain accountability for the content of the laws it passes. By requiring a vote in Congress, the REINS Act will result in more carefully drafted and detailed legislation, an improved regulatory process, and a legislative branch that is truly accountable to the American people for the laws imposed upon them.
CONGRESSIONAL REVIEW OF AGENCY RULEMAKING.
To amend chapter 8 of title 5, United States Code, to provide that major rules of the executive branch shall have no force or effect unless a joint resolution of approval is enacted into law.
The following summary was written by the Congressional Research Service, a well-respected nonpartisan arm of the Library of Congress.
Regulations From the Executive in Need of Scrutiny Act of 2011 – Rewrites provisions regarding congressional review of agency rulemaking to require congressional approval of major rules of the executive branch before they may take effect (currently, major rules take effect unless Congress passes and the President signs a joint resolution disapproving them). Defines “major rule” as any rule, including an interim final rule, that has resulted in or is likely to result in: (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or U.S. competitiveness. Provides that if a joint resolution of approval of a major rule is not enacted by the end of 70 session days or legislative days after the agency proposing the rule submits its report on such rule to Congress, the rule shall be deemed not to be approved and shall not take effect. Permits a major rule to take effect for 90 calendar days without such approval if the President determines such rule is necessary because of an imminent threat to health or safety or other emergency, for the enforcement of criminal laws, for national security, or to implement an international trade agreement. Sets forth House and Senate procedures for joint resolutions approving major rules and disapproving non-major rules.
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