House Approves REINS Act to Limit Executive Overreach
In an important victory for NAHB and common-sense regulatory reform, the House today approved the Regulations from the Executive in Need of Scrutiny (REINS) Act of 2023.
This legislation would restore meaningful congressional oversight to regulatory rulemaking by requiring Congress to approve all federal agency regulations that have an annual economic impact of $100 million or more.
Prior to the House vote, NAHB sent a letter to House lawmakers urging support for this bill and deemed it a “key vote” because of its importance to the housing industry.
Without meaningful congressional oversight, poorly crafted rules often go into place and businesses are forced to divert precious resources to lengthy and uncertain legal challenges.
Under the REINS Act, if a federal agency proposes a major regulation, it would need to be approved by both the House and Senate before going into effect.
The bill would also grant Congress the authority to disapprove a “non-major rule” (defined as a regulation that would result in an annual effect on the economy of less than $100 million) through a joint resolution.
NAHB believes that placing more decision-making in the hands of Congress on major regulatory rules that impact millions of Americans and countless small businesses will reduce regulatory overreach by federal agencies. We will urge the Senate to introduce and advance companion legislation.