REINS Act of 2023

Regulations from the Executive in Need of Scrutiny Act of 2023 or the REINS Act of 2023

This bill revises provisions relating to congressional review of agency rulemaking.

Specifically, the bill establishes a congressional approval process for a major rule. A major rule may only take effect if Congress approves of the rule. A major rule is a rule that has resulted in or is likely to result 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; (3) significant adverse effects on competition, employment, investment, productivity, innovation, or the ability of U.S.-based enterprises to compete with foreign-based enterprises; or (4) an increase in mandatory vaccinations.

The bill also provides for the designation, review, and approval of at least 20% of agency rules currently in effect.

The REINS Act of 2023, also known as Bill 118 hr 277, is a piece of legislation introduced in the US Congress. The purpose of this bill is to increase congressional oversight of federal regulations by requiring that any major rule proposed by a federal agency must be approved by both houses of Congress before it can take effect.

Under the REINS Act, a major rule is defined as any regulation that has an annual economic impact of $100 million or more, significantly affects the economy, or poses a risk to public health or safety. This bill aims to ensure that elected representatives have a say in the implementation of regulations that could have a significant impact on the American people and the economy.

Supporters of the REINS Act argue that it will help to prevent overreach by federal agencies and ensure that regulations are carefully considered and approved by Congress before being implemented. Critics, however, raise concerns that the bill could lead to delays in the implementation of important regulations and hinder the ability of federal agencies to protect public health and safety. Overall, the REINS Act of 2023 is a controversial piece of legislation that seeks to increase congressional oversight of federal regulations. Its impact on the regulatory process and the ability of federal agencies to protect the American people remains to be seen.