Tom Reed
Saying that over-regulation prevents small businesses from adding jobs, Congressman Tom Reed (R-Corning) this week is urging the Senate to take up a bill that would curtail the amount of regulations being imposed upon businesses throughout America. The Regulations from the Executive In Need of Scrutiny Act – REINS Act – was already passed by the Republican-led House seven months ago. According to Congressman Reed – it requires Congressional approval for new regulation that would have a significant economic impact on business
“The REINS Act is a fundamental, institutional, long-term fix that says any regulations coming from the executive branch, impacting the economy of $100,000,000 or more, would need to first – before they become effective – go to Congress,” Reed said. “[It is] a check and balance on a system that developing into a tremendous shadow government in Washington D.C. – what so many call the “fourth branch” of our government – and that’s the regulatory agency bureaucracy that is spiraling out of control”
According to Congressman Reed, at end of 2011, there were 212 major regulations in the pipeline, which would have required congressional approval if the REINS Act were in place. He says it only makes sense to pass this law in order for congress to have better control on future regulations.
“To me, it’s a common sense check-and-balance on a growing problem that is saddling our job creators in America, and as you all know, job creation is number one, “Reed said. “After seven months, now is the time to debate it in an open and honest fashion on the floor of the senate so that we can actually move forward with some job creating legislation in a bicameral, two-chamber manner.”
Reed says that according to the Small Business Administration, the annual cost of complying with federal regulations has exceeded $1 trillion since 2005. He adds that in 2011 alone over 3800 new final rules were published in the Federal Register. Reed, who made his comments during a media conference call Monday morning, adds that the Senate needs to give this legislation an up or down vote, rather than continuing to hold off on taking any action.
Reed, a Republican from Corning, is currently running for re-election in the newly created 23rd Congressional District, which includes Chautauqua County. He will square off against Ithaca Democrat Nate Shinagawa in November.
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