Republicans in the House of Representatives have tried for six years to advance a bill requiring Congressional approval for any new administrative rule projected to cost the economy more than $100 million annually. That same legislation failed three times in the Senate. Indiana Republican Todd Young is the newest Senate member to get behind the idea. He authored a bill as a member of the House, before winning a Senate seat in the recent election. The Regulations from the Executive in Need of Scrutiny (REINS) Act passed the House last week on a 237-187 vote.
One amendment to the bill would require agencies to repeal existing rules to offset any expected costs of new rules. Another amendment would peg the $100 million impact number to inflation. Senator Rand Paul joined 23 other Senators in introducing a similar bill in the Senate, but Democrats are expected to block the bill there.
Source: NAFB News Service