Today, Congressman Don Bacon (NE-02) voted in favor of a bill he has co-sponsored. H.R. 26, the Regulations from the Executive in Need of Security (REINS) Act passed by a vote of 237-187, and requires that Congress vote on any major rule or regulation coming from the executive branch that is estimated by Office of Management and Budget (OMB) to impact the economy by $100 million or more.

“I frequently hear from countless people in the District about the crushing federal regulations hurting small business and this only increased under the Obama Administration,” said Congressman Bacon. “This legislation will help re-establish the three branches of government and prevent abuses of power at the expense of hardworking taxpayers and small businesses.”

The REINS Act represents the first co-sponsored legislation passed by the U.S. Congress in the Congressman’s new term representing Nebraska’s Second Congressional District. Congressman Bacon was sworn into the 115th Congress three days ago on January 3, 2017.

“I’m pleased to have co-sponsored legislation to support taxpayers and small businesses as well as preserve the intent of our Constitution. To have the REINS Act pass on my third day in office is promising and speaks to the importance of this issue,” said Congressman Bacon.

During the first seven years of the Obama Administration, federal regulators added an average of 81 new major regulations per year to those economic headwinds – 556 in total. At least 229 of these rules contained new burdens on individuals and businesses with annual costs of nearly $108 billion.

Federal regulations imposed on America’s job creators and households was an estimated $1.885 trillion burden in 2015, equaling roughly $15,000 per U.S. household and 104 percent of America’s Gross Domestic Product.

The Act guarantees no major regulation becomes effective until Congress approves it.  It also guarantees that Congress must act within 70 legislative days on major rule votes.  In addition, the REINS Act guarantees an additional safeguard against federal bureaucrats imposing the heaviest burdens on America’s economy – through Americans’ elected representatives.

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