Smith Cosponsors Regulatory Reform Bill

Jan 24, 2013 Issues: Economy

 

Congressman Adrian Smith (R-NE) made the following statement today after the Regulations from the Executive in Need of Scrutiny (REINS) Act was introduced by Congressman Todd Young (R-IN): 

“Overreaching federal regulations continue to devastate Nebraska families, small businesses, and agriculture producers.  The REINS Act would serve as an important check on the growing power of the Executive Branch and ensure Congress is able to review new rules with the largest impact on our economy before they take effect.  I look forward to working with Congressman Young to pass this needed regulatory reform measure.”

The REINS Act would require new regulations with an annual economic impact of more than $100 million to be approved by a stand-alone vote in Congress and signed by the President before they are enforced.

Congressman Smith is an original cosponsor of the REINS Act.