House votes to REIN in regulation

The House approved the Regulations from the Executive in Needs of Scrutiny (REINS) Act (H.R. 10) on Dec. 7 by a vote of 241-184.

The REINS act would check the power of regulators, requiring congressional approval before implementing any regulation with an economic impact of more than $100 million. An amendment to the bill offered by Rep. Pete Sessions (R-TX) would also require federal agencies to consider the potential employment effects of any rule submitted to Congress under that act.

Having now passed the House, the measure will await action in the Senate where Sen. Rand Paul (R-KY) has introduced a companion measure (S. 299). However, Senate Majority Leader Harry Reid (D-NV) has indicated that the legislation will not be considered by the Senate and the Obama administration has pledged to veto the REINS Act should it be approved by the upper chamber.

~~~ posted 12/13/11 ~~~