Hultgren Supports Legislation to "REIN" in the Regulators
Washington, D.C. – U.S. Rep. Randy Hultgren (IL-14) today released the following statement after legislation to reduce the regulatory burden on Americans, known as the The Regulations from the Executive In Need of Scrutiny Act, or REINS Act, passed the House on a bipartisan vote of 241-184.
"America's job creators are buried under an avalanche of red tape, and regulatory burdens alone have a price tag of around $1.75 trillion annually," said Hultgren. "Compliance with these burdensome regulations leads to higher consumer costs, reduced wages, and even reduced hiring. In fact, a recent Gallup poll found that the most important problem facing small business owners was complying with government regulations, which echoes what countless small business owners from the 14th district have told me time and again.
"The REINS Act, approved by the House today, is a commonsense bill that requires Congress to approve every new major regulation proposed by the executive branch. This will ensure that Congress, not unelected bureaucrats, retains control and accountability for the content of the laws facing the American people.
"Unless this Congress has the courage to act decisively, unchecked regulators will only grow stronger and make things more complicated and costly on all Americans. Just like the more than twenty other pro-growth bills passed by the House so far this year, the REINS Act will give our job creators the certainty they need to grow, expand and put Americans back to work."
The REINS Act would apply to all new major regulations, which is any rule that has resulted in, or is likely to result in, either an annual effect on the economy of $100 million or more, or a major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies. There were 95 final major regulations in 2008, 84 in 2009, and 100 in 2010.
Congress and the President have 70 legislative days to approve a joint resolution of approval. If Congress and the President do not act within that time period, the regulation is deemed to be not approved.