Congress Must Approve Costly Federal Agency Regulations and Guidance (REINS Act).
This law fundamentally changes how federal agencies create rules, requiring explicit Congressional approval for any 'major rule' (those costing the economy $100 million or more annually). It aims to increase accountability by ensuring that costly regulations are approved by elected officials, not just unelected bureaucrats. Citizens gain transparency as agencies must publish detailed cost-benefit analyses and job impact studies before major rules can take effect.
Key points
Major rules (economic impact of $100 million or more) require a joint resolution of approval from Congress to become law, shifting power from agencies to elected representatives.
Federal agencies must publish detailed economic analyses, including job impact, and underlying data for all proposed rules.
A 'Regulatory Budget' is established, requiring agencies to offset the costs of new significant regulations by eliminating existing ones, aiming to limit the overall regulatory burden.
Most major rules will automatically expire after 10 years unless Congress votes to extend them.
Introduced
Citizen Poll