Regulatory reform legislation aims to increase accountability and transparency
Feb 07 2011
Washington, D.C. – U.S. Senator Marco Rubio announced today that he is an original co-sponsor of legislation introduced by U.S. Sen. Rand Paul (R-KY) that will increase accountability and transparency in the federal regulatory process. The “Regulations from the Executive In Need of Scrutiny Act of 2011” (or REINS Act), will result in better drafted and detailed legislation, an improved regulatory process and will ultimately promote a Legislative Branch accountable to the American people.
“American entrepreneurs and businesses know all too well how bad legislation can lead to job-destroying uncertainty,” said Senator Rubio. “Just as bad as anti-jobs legislation is the proverbial devil in the details of laws that empower unelected bureaucrats to write rules and regulations that can increase costs, stifle investment and ultimately hold back job creation.
“The REINS Act is an important measure that will bring greater transparency and accountability to a regulatory system that has been undermining private sector job creation,” he added.
In addition to Senators Rubio and Paul, other co-sponsors include Republican Senators Jim DeMint (SC), John Ensign (NV), Chuck Grassley (IA), Tom Coburn (OK), Roy Blunt (MO), John Thune (SD), Mike Enzi (WY), John Cornyn (Texas), Orrin Hatch (UT), Saxby Chambliss (GA), Ron Johnson (WI), Johnny Isakson (GA), John Barrasso (WY), Roger Wicker (MS), Kelly Ayotte (NH), Jeff Sessions (AL), Rob Portman (OH), Mike Johanns (NE), John Boozman (AR), David Vitter (LA), Mike Lee (UT) and James Inhofe (OK).
The REINS Act would require that Congress must affirmatively approve every new major rule proposed by the Executive Branch before it can be enforced on the American people. A “major rule” is any rule that the Administrator of the Office of Information and Regulatory Affairs (OIRA) of the Office of Management and Budget (OMB) finds may result in an annual effect on the economy of $100 million or more; a major increase in costs or prices for consumers; or significant adverse effects on the economy.
In introducing this legislation on the Senate floor today, Senator Paul said, “I am proud to offer this legislation today alongside my fellow Kentuckian, Congressman Geoff Davis, in the House. If Congress is to impose regulations and laws on U.S. citizens, it is important that those citizens are made aware of how they come to be. Cutting red tape and opening the regulatory process to scrutiny is an important step in holding government accountable to all Americans.”