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With the support of Congressman Bill Posey (R-Rockledge), the House of Representatives passed legislation to make high cost federal regulations subject to Congressional approval. The Regulations from the Executive in Need of Scrutiny Act or REINS Act provides a check on the authority of federal regulators to create rules and regulations found to have a major cost (costing $100 million or more) on the economy.

2 Years of new and proposed federal regulations

“Federal agencies impose more than 4,000 new regulations each year with more than 200 of these new rules having a significant cost on the economy. According to the Small Business Administration, the annual compliance cost for small businesses is estimated to be over $10,000 per employee,” said Congressman Bill Posey. “This legislation is a step toward getting this economy back on track and returning control of the federal rulemaking process to the American people.”

The House also passed legislation to remove the IRS’ authority to enforce the Health Care Law and prevent senior government employees under investigation for wrongdoing from receiving paid leave. Posey also supported these measures, noting that the IRS has lost credibility.

“There are serious questions about the IRS’ ability to fairly administer our nation’s tax laws while keeping personal records confidential. Ultimately there needs to be accountability for these abuses, which are serious and deserve the full attention of the Justice Department.”