Congressman Mike Fitzpatrick (PA-8) joined the House Tuesday evening in passing the Regulations from the Executive In Need of Scrutiny (REINS) Act [H.R. 427] - legislation co-sponsored by Fitzpatrick which reforms the outdated regulatory by requiring an up-or-down vote in Congress on major new regulations announce by federal agencies.

                "Since 2009, the Obama administration has enacted over 500 major regulations at a combined cost of $625 billion to the economy – money that should be staying with Bucks and Montgomery county manufacturers and small businesses," said Fitzpatrick. "Congress makes the laws, and, as such, has a responsibility to ensure that the government is striking the right balance when it comes to regulations."

                The REINS Act guarantees Congressional oversight of regulations which cost the economy $100 million or more; increase costs for consumers, or; will have a significant adverse impact on the economy and U.S. competitiveness. According to the American Action Forum, the legislation could save more than $27 billion in annual regulatory costs and 11.5 million paperwork burden hours.

                "Over regulation can unnecessarily harm businesses, stifle innovation and have a negative effect on job growth. That does not mean that our government shouldn›t be issuing any regulations at all,"said Fitzpatrick. "As a firm believer in balanced government and appropriate regulations to help the economy, I am a proud co-sponsor of the REINS Act."

                "Most small business owners can't count on regulatory compliance specialists and lawyers to help them keep up with all of the new federal regulations they must follow," said Karen Harned, Executive Director of the National Federation of Independent Business' Small Business Legal Center. "With an average of 10 new regulations a day, small business owners are spending more time on paperwork and less time focusing on their business. That's bad for their bottom-line and for job growth nationwide."

                The REINS Act passed House last Congress by a 232-183 vote.