Today, Congressman Bob Latta (R-OH5) released the following statement after voting in favor of the Regulations from the Executive In Need of Scrutiny (REINS) Act:
“Within his first year in office, President Biden authorized burdensome government regulations amounting to more than $200 million – all at the expense of the American taxpayer. With today’s House passage of the REINS Act, we are one step closer to reasserting Congress’ legislative authority, keeping unelected bureaucrats and oversized federal agencies in check, and reining in gross government overreach by the Biden administration.”
Background on the REINS Act:
Reasserts the legislative authority of Congress and prevents excessive overreach by the executive branch in the federal rulemaking process.
Requires every new ‘major rule’ proposed by federal agencies to be approved by both the House of Representatives and Senate before going into effect.
The REINS Act would define a ‘major rule’ as:
any federal rule or regulation that may result in: an annual effect on the economy of $100 million or more;
a major increase in costs or prices for consumers, individual industries, government industries, government agencies, or geographic regions; or
significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.
Preserves Congress' authority to disapprove of a ‘nonmajor rule’ through a joint resolution.
Examples of executive actions by the Biden Administration not approved through Congress:
President Biden’s student loan bailout: In 2022, the Biden administration unilaterally and unlawfully announced it was “canceling” $519 billion in student loans. The administration also extended the loan repayment “pause” and proposed a new rule to change income-based repayment. Altogether, these actions will cost taxpayers more than $1 trillion.
Bans on oil and gas lease sales: In 2021, the Biden administration canceled ending oil and gas lease sales, postponed lease sales, canceled public hearings, and withdrew public review of lease sales in 12 states.