Members of the last Congress introduced resolutions to block 25 regulations implemented by the Obama administration during the past two years. More such efforts will likely come as Congress seeks to rein in “midnight” rules imposed between now and Inauguration Day. On Thursday, the House approved a popular regulatory reform bill, the Regulations from the Executive in Need of Scrutiny Act, which would further expand congressional influence over regulation by giving Congress a final say before major regulations can be adopted.
The REINS Act requires that a major regulation cannot take effect unless it is approved by Congress under expedited procedures. A “major” regulation is one that has any economic effect of $100 million or more annually, would lead to a major increase in costs or prices, or other significant adverse economic effects specified in the legislation. Non-major regulations could go into effect without congressional approval, but Congress could use an expedited procedure to repeal them.
