House Passes Davis' REINS Act
Today, the House of Representatives passed Congressman Geoff Davis’ bill, H.R. 10, the Regulations from the Executive in Need of Scrutiny (REINS) Act, by a bipartisan vote of 241 to 184. Congressman Davis said, “The point of the REINS Act is accountability. Each member of Congress must take a stand and be accountable for regulations that will have the greatest impact on our economy. Regulatory compliance costs small businesses an estimated $10,500 per employee annually. At a time of high unemployment, we must do something about this massive burden. No longer would Congress be able to avoid accountability by writing vague laws requiring the benefits up front and leaving the unpopular or costly elements up to the bureaucrats who will write those elements of the law at some later date.
“I want to thank all of the supporters of the REINS Act, especially Speaker Boehner, Chairman Smith, Senator Paul, and the over 200 co-sponsors for their tireless efforts to advance this commonsense legislation.”
Speaker of the House John Boehner said, “Passage of the REINS Act is a significant step towards fulfilling our obligations to the American people outlined in the Pledge to America. The REINS Act will make the regulatory process more open and accountable, and rein in unelected bureaucrats from strangling small businesses in red tape, which will give private sector job creators the confidence they need to grow our economy and hire.”
House Judiciary Chairman Lamar Smith said, “More than once this year, the President has talked about the dangers that excessive regulations pose to our economy. But unfortunately, his actions speak louder than his words. The Obama administration is preparing numerous regulations that each will cost the economy $1 billion or more per year.
“The American people want job creation, not more regulation. The REINS Act reins in out-of-control federal regulations that burden America’s businesses and job creators. It guarantees that Congress – not unelected agency officials – will be accountable for all new major regulatory costs.”
Background:
The REINS Act would require an up-or-down, standalone vote in Congress and the President’s signature on all new major rules before they can be enforced on the American people, job-creating small businesses, or State and local governments. Major rules are those that have an annual economic impact of $100 million or more.
Congressman Davis originally introduced the REINS Act during the 111th Congress, and reintroduced the bill in the 112th Congress as H.R. 10, which has the bipartisan support of over 200 co-sponsors. Senator Rand Paul [KY] introduced the companion bill in the Senate as S. 299, which currently has the bipartisan support of 31 co-sponsors.
More than 30 organizations have endorsed the REINS Act. Click here to view a complete list and read letters of support.
To learn more about the REINS Act, visit: http://geoffdavis.house.gov/REINS.