The House is likely to vote this week on H.R. 427, the Regulations from the Executive In Need of Scrutiny Act, also known as the REINS Act. Introduced by Rep. Todd Young, R-Ind., the bill would require Congress and the president to approve major regulations (those with an economic effect of $100 million or more) before they could take effect. Congress would be granted 70 days to vote affirmatively to adopt such regulations. If it did not, the president temporarily could deem the regulation effective if national security or the public health or safety was imperiled.
Perhaps the third time will be the charm. The House overwhelmingly passed the legislation in 2011 and 2013, only to see it die in the then-majority Democratic Senate. Majority Leader Mitch McConnell, R-Ky., who has complained about ill-conceived regulation, has not yet said whether the Senate would take up its version of the REINS Act (S. 226), introduced by the junior senator from his state, Rand Paul….(read more at the R Street Institute Blog)