Washington, DC (August 2, 2013) – Amidst skyrocketing regulatory costs—$133 million worth added just last week—U.S. Congressman Steve Pearce today voted for H.R. 367, the Regulations From the Executive in Need of Scrutiny (REINS) Act of 2013.  Pearce is an original cosponsor of the bill.
 
“In just the last four years, the regulatory burden on Americans has increased by over 520 billion dollars,” said Pearce.  “The Administration’s regulatory agencies are grossly abusing their power, publishing hundreds of rules every week that are exempt from any oversight, checks, or balances.  Under this crushing regulation, jobs all across New Mexico are disappearing.  Middle class families have had enough—the REINS Act restores accountability to Washington’s out-of-control bureaucracy.”
 
The Reins Act sets forth criteria for a “major,” rule, with regard to a new regulation’s impact on jobs, prices, investment, and American competition in global markets.  If the rule meets the criteria set forth, then it requires Congress to enact a joint resolution of approval within 70 legislative days, or the rule will not take effect.