Support the REINS Act and rein in rogue federal agencies!
The “Executive in Need of Scrutiny Act of 2023” (REINS Act) would require that Congress approve any new federal regulation that the Office of Management and Budget finds to have an economic impact of $100 million or more before it is imposed on the American people. The law would keep elected officials accountable for policy making, and create a check on unelected bureaucrats driving political agendas.
This act specifically targets “major rules”–regulations that have a substantial impact on the economy, consumer costs, or competition. Under this proposed legislation, federal agencies would be required to provide economic studies that analyze how the proposed regulations would affect the U.S. economy, jobs, and businesses. A major rule, as defined by the REINS Act, includes regulations that meet one or more of the following conditions:
(A) An annual effect on the economy of $100 million or more;
(B) A major increase in costs or prices for consumers, individual industries, Federal, State, or local government agencies, or geographic regions; or
(C) Significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets.
By requiring congressional approval for major rules, the REINS Act empowers the voice of small businesses before an overreaching regulation is allowed to take effect.