The REINS Act is a Common Sense Step Forward in Regulation Reform

Regulations are crippling American businesses and burdening taxpayers with a bloated bureaucracy to enforce the regulations.  While some regulations are important, it is also critical to make sure that there is a system of checks and balances in the system.  The Regulations from the Executive In Need of Scrutiny (REINS) Act would be that safeguard.  The REINS Act may not be as sexy as Bridge to Nowhere or the Solyndra loan scandal, but it is an important piece of legislation that is needed to put the brakes on unnecessary and burdensome regulations.  Before any regulation is imposed on the American people, the REINS Act would require Congress to take an up-or-down vote to approve regulations that have an economic impact of $100 million or more.  The birth of the REINS Act actually goes back to 2009 when Rep. Geoff Davis (R-Ky.) offered the legislation after talking to a constituent about excessive regulations.  This week, the House of Representatives is expected to vote on the measure and the Taxpayers Protection Alliance (TPA) is urging every member of the House to vote for the legislation (read the TPAPB here).  And, TPA urges everybody to call their member of Congress to tell them to vote for the legislation.  You can find your member here or call the Capitol Hill switchboard at 202-224-3121.

Even though regulations cost the economy more than $1.7 trillion each year, members of Congress are not currently required to approve major federal regulations finalized under their watch.  The only action currently allowed is for members to pass a resolution of disapproval in an effort to overturn major rules.  This has meant an unchecked and out-of-control Executive Branch issuing unnecessary and cumbersome regulation.  This means that when the Environmental Protection Agency (or any other agency) passes a regulation, Congress’s hands are virtually tied.

Pioneers in the private sector have recognized the destructive nature of excessive regulation.  Whole Foods Market co-founder John Mackey noted in a November 16, 2011 Wall Street Journal op-ed that, “Many government regulations in education, health care and energy prevent entrepreneurship and innovation from revolutionizing and re-energizing these very important parts of our economy … Currently thousands of new regulations are added each year and virtually none ever disappear.”

The key point of the REINS Act is that before any regulation is imposed on the American people, the REINS Act requires Congress to take an up-or-down vote to approve regulations that have an economic impact of $100 million or more.  This is necessary to keep regulations in check because newsmax.com pointed out that since taking office, President Barack Obama’s policies have made things worse with more than 80,000 pages of regulations published in the Federal Register, the highest number since 2000 (last year of Clinton administration).  And, according to the Heritage Foundation, “A Congressional Research Service study identifies more than 40 provisions of the PPACA that confer significant rulemaking authority on implementing officials.”

Over-regulation is bound to get worse before it gets better.  Government bureaucracies tend to expand rather than contract.  The REINS Act is a step forward in trying to bring some much needed common sense to the process.  TPA urges members of the House of Representatives of both parties to vote for the REINS Act and take a step closer to reining in unneeded regulations.