Scrutiny Law Passes
House of Representatives
Requires Congressional Action Before Major Rules
May Take Effect
On January 5 , the House or Representatives passed the Regulations from the Executive in Need of Scrutiny ( REINS ) Act ( H . R . 26 ) by a vote of 237 to 187 . The legislation increases accountability and transparency in the federal regulatory process by requiring Congress to approve all major rules before taking effect . As part of the bill , a “ major rule ” means any rule , including an interim final rule , that the Administrator of the Office of Information and Regulatory Affairs of the Office of Management and Budget finds has resulted in or is likely to result in the following :
• An annual effect on the economy of $ 100 million or more ;
• A major increase in costs or prices for consumers , individual industries , federal , state , or local government agencies , or geographic regions ; or
• Significant adverse effects on competition , employment , investment , productivity , innovation , or on the ability of United States-based enterprises to compete with foreign-based enterprises in domestic and export markets .
The REINS Act will prevent federal regulatory agencies from adopting & implementing rules without consideration of the impact to business .
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JANUARY 2017 • DITCHMEN 11