Yesterday, the U.S. House of Representatives passed legislation to require Congressional approval of any federal regulation with an economic impact over $100 million. The REINS Act, of which Congressman Scott Tipton is a co-sponsor, seeks to cut red tape, curb overregulation and reduce onerous compliance burdens facing American job creators. Currently, new rules proposed by regulatory agencies such as the Environmental Protection Agency and the Internal Revenue Service are implemented without Congressional scrutiny. The REINS Act would require a 70 day Congressional Review period before a rule could take effect. In a statement, Tipton said “This would ensure that new rules reflect legislative intent, aren’t duplicative and don’t create unnecessary or punitive burdens for hardworking Americans.” The bill still must pass the Senate, before heading to President Obama, who has threatened a veto. Pictured: Scott Tipton
House Passes REINS Act
This entry was posted in News and tagged American job creators, Congressional approval, Congressional Review, Congressman Scott Tipton, economic impact, Environmental Protection Agency, federal regulation, Internal Revenue Service, onerous compliance burdens, overregulation, President Obama, REINS Act, Senate, U.S. House of Representatives, veto. Bookmark the permalink.