|WASHINGTON, District of Columbia—The House of Representatives on Wednesday debated and voted on the REVIEW Act, a bill to rein in financially burdensome executive rules and regulations and protect hardworking Americans from shouldering the billions in regulatory costs associated with them.
“The President has shown his unwillingness to adhere to the Constitution and let Congress pass laws, repeatedly using executive rules and regulations to pass his extreme agenda,” said Rep. Vicky Hartzler (R-Mo.). “This is hurting the American people and stifling economic opportunity for hardworking families.”
Since 2009, the Obama Administration has finalized over 2,800 rules and regulations, with 600 of those being “major” rules – meaning they cost Americans $100 million or more. In 2016 alone, over 250 regulations have been finalized with a cost of $106 billion for American families and job creators.
Highlighting one of this year’s “major” rules, the Department of Labor’s “Overtime Rule,” Hartzler pointed to the numerous businesses, schools, community banks, and charitable organizations who have expressed their concern with this rule. “One bank in my district will have to transition 13 of its salaried tellers to hourly wages so it can cover the $129,000 in expected regulatory costs from this rule,” Hartzler asserted.
“In an already sluggish economic recovery, those families will now have to cope with reduced income, while the bank will have less capital to invest in the community. These are our friends and neighbors. What good is this doing for them?”
The REVIEW Act, sponsored by Rep. Tom Marino (R-Penn.), passed the House by a vote of 244-180.
The bill would force agencies to consider the true economic impact their regulations have on Americans. It would also stop “high impact rules” – those with costs over $1 billion dollars annually – from taking effect until all court challenges to the regulations in question are settled, placing an automatic administrative stay if a legal challenge is filed within 60 days or the time otherwise prescribed to seek judicial review.