what is the REINS Act ?

 what is the  REINS Act ?

 I hear this ideal on the Stossel Fox show. Looks like a very unique way to control the uncontrolled rules and regulations being generating by government agencies. Senator Mike Like has proprosed this new bill in congress.

In brief, anything thing that causes a economic impact of over $100 million would be required congressional approval. The problem is that congress has delegated and created several agencies,ie EPA, that really don't have to answer to anyone. Some say they are running amok in destructive rules and regulations causing a serious damper effect on the total economy.

The jest of it that congressional approval would be required to enact any new actions. Right now there is no congressional check on any of these new rules and regulations.

 

This seems to fit well with John Stossel new book, "No they can't'"

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  During his principal comments, Senator Mike Lee, junior senator from Utah, suggested that one reason why EPA and other agencies have run amok is that Congress has granted them significant rule making power with little or no Congressional oversight. To  “rein in” these regulatory excesses, the House of Representatives passed late last year the “Regulations from the Executive in Need of Scrutiny Act” (REINS).  The Act would require Congressional approval for any regulation that would have an economic impact in excess of $100 million.