Rep. Geoff Davis (R-KY) has introduced a powerful bill in Congress that would help reduce regulatory burdens by bringing greater accountability into government agencies. House Resolution 10, the Regulations from the Executive in Need of Scrutiny (REINS) Act, would require Congress to scrutinize every new “major rule” – i.e., a rule with an annual effect on the economy of $100 million or more – proposed by the executive branch and affirmatively approve any such rule before it is enforced on the business community. Complying with multiple layers of regulation diverts valuable resources that could be used for business expansion and job growth.
While the Kentucky Chamber is encouraged that President Obama has charged federal agencies to closely analyze the effectiveness of past regulations, there is nothing in place to limit the scope of future regulations. In a letter to lawmakers, the Chamber voiced support for the REINS Act, believing it would restore a much-needed balance of power that ensures our elected officials have a voice in the adoption of major rules. Economic decisions of this magnitude deserve the rigor of the full legislative process and should not be delegated to unelected bureaucrats.
We applaud Rep. Davis for introducing this bill and his recognition that Kentucky – primarily its signature energy industry – has felt the impact of excessive regulation more than most. Kentucky’s future as an energy production leader is in serious jeopardy due to the unfettered regulatory control of the U.S. Environmental Protection Agency. With the recent passage of sweeping policy changes – from health care to financial reform – and EPA’s targeted regulations on Appalachia coal, there is no better time than now to tighten the belt on far-reaching regulations. The REINS Act will improve Congressional oversight, increase accountability for all branches of government, and ultimately result in smarter, not swollen, regulations.
To learn more about the REINS Act or to show support for this legislation, click the image below.