REINS Act

Congress is currently considering a bill that if enacted would require “major rules” to receive approval from both the House of Representatives and the Senate before going into effect. The bill defines major rules using current standards—which, among other categories, cover rules that have or are likely to have an annual economic impact of $100 million or more—as well as a new standard covering rules issued under the Patient Protection and Affordable Care Act. The bill’s stated purpose is to “increase accountability for and transparency in the Federal regulatory process” in response to a perception that Congress has “excessively delegated” legislative power to executive agencies over time. The bill passed in the House of Representatives at the end of July, and a Senate version of the bill has already garnered support.
Continue Reading Bill Providing for Congressional Approval of Major Rules Passes House of Representatives