On the recordDecember 7, 2011
I thank the gentleman for yielding. I rise as a cosponsor and a strong supporter of the REINS Act. This is legislation that will bring forward reform, accountability, and transparency to the Federal rulemaking process. You know what, it's time for Congress to act more like a board of directors where we will have to oversee proposed rules and regulations, especially those that have a significant economic impact. This bill will absolutely force accountability. It allows regulations to go forward, but it's also going to force Congress to analyze, to pay attention, and then finally to act. So no longer are we going to see agencies and unelected bureaucrats being able to promulgate these rules and regulations without having an appropriate check and balance. There are thousands and thousands and thousands of these rules and regulations in the pipeline, and over 200, 224 specifically, that have that major economic impact threshold that would be affected by the REINS Act. That's a cost of over $22 billion, at a minimum, to the economy. If we want to help small businesses grow, if we want to grow jobs, if we want to help our economy get going and jump start it, we need to remove that cloud of uncertainty that is hanging over the heads of small and medium-sized businesses in that regulatory environment. I want to thank my colleague from Kentucky for his leadership in leading this reform. I ask for its passage.…
