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House Passes REINS Act Despite Veto Threat

HR 427, the Regulations from the Executive in Need of Scrutiny (REINS) Act, passed the House on Tuesday by a vote of 243-165.  The measure calls for House and Senate approval of any new major rule before it takes effect as a deterrent for costly regulations that stymie economic growth.  A Senate companion measure, S 226, has been introduced by Sen. Rand Paul (R-KY) but has not received any attention as yet.  Not surprisingly, the Administration has issued a veto threat should the measure reach the President’s desk.

Three amendments were also accepted – one to require that a list of information on which a rule is based, including all data, scientific and economic studies, and cost-benefit analyses, be published in the Federal Register and online; one that requires that any report on a proposed Federal rule include an assessment of anticipated jobs gained or lost as a result of implementation and specify whether those jobs come from the public or private sector; and one that requires Congressional approval for all rules proposed under the Affordable Care Act.