The bill, called the REINS Act, requires that any future major regulation adopted by an Executive Agency—say a new toxic chemical standard required by the recently enacted Chemical Safety Act, or a new consumer protection rule about some innovative but untested kind of food additive—must be approved by a specific resolution in each House of Congress within 70 days to take effect.
To give a sense of the scale of this road-block, in 2015 there were 43 such major federal regulations passed to protect the public; among them were food safety regulations, the Clean Power Plan regulating pollution from electrical generating facilities, net neutrality rules protecting the internet from monopoly, restrictions on predatory lending and energy efficiency standards for appliances.
If the REINS Act had been in effect, it unlikely that the Tea Party dominated Republican caucus in the House would have approved of any of these rules.Future standard setting under the entire body of legislation enacted over the past 40 years to protect the public, from the Clean Air Act to the Dodd Frank financial sector reforms, would be frozen. Over time, as new health, safety, consumer and labor protection issues arise, all of these laws will effectively have been repealed, with no public debate and no accountability. It will also be impossible to restore them as long as the REINS Act is in effect, because by requiring Congress to approve every regulation, it makes it impossible to pass technically complex and scientifically valid rules on any topic of controversy.
Who needs safety when you can have profits instead?