Noem-Backed Legislation to Better Scrutinize Costly Federal Regulations Passes House
Washington, D.C. – Legislation cosponsored by Rep. Kristi Noem that aims to provide more oversight of costly federal regulations passed the U.S. House of Representatives today. H.R.427, the Regulations from the Executive in Need of Scrutiny (REINS) Act, would require federal agencies to submit major regulations – or those with an economic impact of more than $100 million – to Congress for final approval.
“In 2014 alone, federal bureaucrats imposed approximately $1.88 trillion worth of regulations on hardworking Americans with little to no enforceable scrutiny. That has to end,” said Noem. “The REINS Act forces federal regulators to think twice before finalizing ill-considered, needlessly costly, or simply unnecessary regulations. It does so by ensuring these unelected, unaccountable bureaucrats can be held genuinely accountable to the people. That’s the way it should be. With nearly 500 new major regulations during this administration alone, it’s clear President Obama’s regulators need to be reined in.”
With the REINS Act in place, federal agencies would be required to submit to Congress any regulation that has an economic impact in excess of $100 million per year for a decisive up-or-down vote. Congress would have 70 legislative days to act. The legislation now moves to the Senate for consideration.