Graves Applauds House Passage of the REINS Act
House Small Business Committee Chairman Sam Graves (R-MO) released the following statement on House passage of the Regulations from the Executive in Need of Scrutiny (REINS) Act of 2013:
“Last week, the President pivoted, yet again, to a message about the economy and jobs. Small businesses need more than a message change; they need a pivot away from the encroaching regulatory state. The numbers tell the story. In the past four years, major rules alone have added nearly $70 billion in new regulatory costs. By comparison, ten years ago, there were six major rules in Fiscal Year 2003, for annual costs that were about $2 billion. In Fiscal Year 2012, 14 new major rules imposed an additional $14.8 to $19.5 billion in annual costs, according to the Office of Management and Budget, making 2012 the costliest year on record for federal regulation. Today’s disappointing unemployment announcement showed that our rate of job growth is not excelling enough to close the jobs gap left by the recession. That’s why we need common sense legislation like the REINS Act and the Regulatory Flexibility Improvements Act to slow the barrage of unnecessary regulations coming from this Administration. If we accept policies like these to restrain our government, the economy will be better off, and small businesses will have more room to both grow and create jobs.”
The bipartisan Regulatory Flexibility Improvements Act of 2013 (HR 2542) was introduced June 28th by Graves and Judiciary Subcommittee on Regulatory Reform, Commercial and Antitrust Law Chairman Spencer Bachus (R-AL).
Earlier this year, Graves launched a new Committee initiative, called “Small Biz Reg Watch,” to help small businesses participate in the development of federal regulations. This online resource on the Committee’s website regularly highlights proposed regulations that could impact small companies and instructs business owners on how they can make comments to the federal agency developing the proposed regulation.