Rand Paul's REINS Act makes it to the Senate (finally)

[Chris0nllyn]

This bill revises provisions relating to congressional review of agency rulemaking. A federal agency promulgating a rule must publish information about the rule in the Federal Register and include in its report to Congress and to the Government Accountability Office: (1) a classification of the rule as a major or nonmajor rule, and (2) a copy of the cost-benefit analysis of the rule that includes an analysis of any jobs added or lost.

A "major rule" is any rule that the Office of Information and Regulatory Affairs of the Office of Management and Budget finds results in: (1) an annual effect on the economy of $100 million or more; (2) a major increase in costs or prices for consumers, individual industries, government agencies, or geographic regions; or (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises.

The Balanced Budget and Emergency Deficit Control Act of 1985 is amended to provide that any congressional approval procedure set forth in this bill affecting budget authority, outlays, or receipts shall be assumed to be effective unless it is not approved in accordance with this bill.

https://www.congress.gov/bill/115th-congress/senate-bill/21?q={"search":["s+21"]}&r=1

 

[SamSpade]

What do YOU think will be the primary consequence of this, if passed?

 

[Gilligan]

Probably a good thing. Some kind of reactive response to the rogue actions of the EPA and others was certainly necessary.

 

[Chris0nllyn]

What do YOU think will be the primary consequence of this, if passed?

Not much considering only about 3% of the regulations unilaterally coming from the Executive Branch are considered "major rules". Regardless, having congressional oversight on burdensome regulations is a good thing.

Coupled with the Regulatory Accountability Act it's a good thing, assuming it gets passed.

Of course, with the investigations being front and center, and Congress still needing to pass a budget along with healthcare and tax reform that was promised, it may be a while.