WASHINGTON, D.C. – U.S. Senator Joni Ernst (R-IA) has co-sponsored the Regulations from the Executive In Need of Scrutiny (REINS) Act in the 115th Congress which requires Congress to carefully review and approve major rules and regulations issued by federal agencies that have an economic impact of $100 million or more annually.
“Over the last eight years, we have seen unelected bureaucrats morph the congressional intent of our nation’s laws to impose economically harmful regulations that ignored the concerns of communities most impacted by the rule,” said Ernst. “We must work to increase transparency and hold regulatory agencies accountable by allowing Congress to review sweeping rules and regulations that will impact folks across Iowa and the country. This legislation gives folks across the country a voice in the process and is a step in the right direction to rein-in burdensome, out-of-control government regulations that interfere in Iowans everyday lives.”
The U.S. House of Representatives is likely to consider the REINS Act this week.
About The REINS Act:
- Designates a ‘major rule’ as any rule or regulation that the Office of Management and Budget (OMB) determines to have a yearly economic impact of $100 million or more and likely to result in significant adverse effects on competition, employment, or productivity.
- Requires Congressional approval before any new ‘major rule’ can be enacted.
- Requires Federal agencies to publish information in the Federal Register that led to the result of the rule, such as data, scientific and economic studies, cost-benefit analyses and information on how the public can access this information online.
- Gives Congress the ability to provide oversight to potentially burdensome new rules and regulations imposed by federal agencies.
- Restrains the power and broad discretion of federal agencies to impose significant ‘major rules’ without public discussion.
- Paves the way for transparency and accountability within the federal rulemaking process.