Hensarling Statement on REINS Act
WASHINGTON – U.S. Congressman Jeb Hensarling (R-TX), chairman of the House Financial Services Committee, released the following statement on the Regulations from the Executive in Need of Scrutiny Act (REINS Act).
“We need a real economic growth that flows from Main Street up, not Washington down. That means allowing employers to enlarge paychecks and expand payrolls without the onslaught of senseless red tape coming from unelected Washington bureaucrats, who are currently running wild under the Obama administration and churning out roughly 4,000 new regulations a year. The REINS Act will do just that by requiring major new federal regulations receive Congressional approval before taking effect. This will put the people’s elected representatives in charge of what major regulations are foisted upon Main Street and ensure that a regulation enjoys widespread support, unlike the current Congressional review process where a regulation moves forward unless one can muster up enough votes in Congress to pass a bill stopping the regulation and have that bill signed into law by the president.
“Americans want paychecks, not more unemployment checks. We need a federal government that will work with the private sector to create private sector jobs, not load more government bureaucrats on its back. Government must open opportunities, not smother them; foster productivity, not stifle it. When Washington stops threatening and punishing the job creators I have no doubt our economy will come roaring back.”