Gibbs Votes to Rein in Regulatory Overreach, Protect Jobs
WASHINGTON, DC – On Tuesday evening, the House of Representatives passed H.R. 427, the Regulations from the Executive in Need of Scrutiny (REINS) Act. The legislation ensures that major regulations, those that would have an annual affect of $100 million on the economy, will come to Congress for an up or down vote.
Congressman Bob Gibbs released the following statement after passage of the bipartisan REINS Act:
“I’m proud to stand with my colleagues from both sides of the aisle today to make serious regulatory reform. One of the things I hear most from small businesses in my district is how hard it is to comply with the ever-expanding maze of regulations. The REINS Act will put Congress in control of major regulations from the agencies that could do damage to our economy and discourage entrepreneurs from achieving the American Dream.
“A study in 2014 showed that federal regulations cost the economy $1.88 trillion. These hard-earned dollars are supporting a bloated federal bureaucracy, and not being used to hire new employees, expand businesses or conduct groundbreaking research. We need commonsense regulations, not a regulatory state that strangles the private sector. With the REINS Act, we can cut bureaucratic red tape and put more Americans back to work.
I want to thank Congressman Todd Young for introducing this legislation to put an end to economic uncertainty and creating a better environment for job creation.”