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Stop Government Abuse: COGC Supports REINS Act
The House this week is expected to bring a variety of bills to the floor that will combat executive overreach and expansive government abuse. We support all of the bills presented as a part of this important initiative. Specifically, as in previous years, the Cost of Government Center urges Members to support the Regulations form the Executive in Need of Scrutiny (REINS) Act. This legislation would require executive regulations costing over $100 million to be approved by Congress. Here are a few reasons why curbing overregulation with the REINS Act is important:
- The cost of Federal Regulation is currently $1.806 trillion. That’s about $14,000 per family. The REINS Act would reduce this cost by making Congress, not faceless bureaucrats, defend why regulations are important.
- Taxpayers are already bearing the burden of unaccountable regulating. 40 provisions of Obamacare require further rulemaking by unelected officials, even though many of the taxes that fund the law have already gone into effect. The REINS Act would require Congress to approve costly rules before they can hit families and businesses.
- Over 57 regulations with economic cost impact of over $100 million were issued last year. The REINS Act would allow for closer scrutiny of these regulations to eliminate the frivolous damage they do to the economy.
- Unbridled regulatory power is inconsistent with lawmaker’s promises for transparency. The REINS Act would require rules that have such a burdensome effect on the economy to be accountable to the people’s elected officials.
To read our full letter supporting the REINS Act, click here.