US House Looks To Nullify Obama Regulations

Two bills were passed by the US House of Representatives last week aimed at rolling back regulations instituted by President Obama in the final months of his presidency. Both could have major implications on the economy of Northwest Colorado.  The Midnight Rules Relief Act will allow congress to review and void the regulations instituted by the Obama administration in the last seven months in a block.  According to Colorado US congressman Scott Tipton, this will give congress the ability to quickly restore confidence in communities that have been affected by the regulations, by removing them and replacing them with policies that create jobs, grow the economy, and keep the U.S. secure.  The house also passed the Regulations from the Executive in Need of Scrutiny or REINS act, which will require congressional approval for any regulation with an expected economic impact of over $100 million. Tipton says that the REINS act will help to redistribute the balance of power between the three branches of government, where recently too much power has been given to the Executive Branch. The REINS act will help to ensure any new major regulation reflects the legislative intent of the Congress and does not impose punitive burdens on hardworking Americans. Both bills now must be approved by the Senate.

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