On December 7, the House passed the Regulations from the Executive in Need of Scrutiny Act (REINS) (H.R. 10). The act would require Congress to vote before the regulation could take effect if the regulation would have an economic impact of more than $100 million or have “significant adverse effects on competition, employment, investment” or other economic issues. Although a companion bill (S. 299) was introduced in the Senate by Senator Ron Paul (R-KY), it is unlikely to move forward.

Links: H.R.10