NC REINS Act Upped to $20M over 5 Years

NC REINS Act upped to $20M over 5 years

(The Center Square) – Legislative approval for any new regulation creating more than an estimated $20 million in economic impact over five years is in a proposal a step away from a full floor vote in the North Carolina Senate.

REINS Act advances in NC Senate

A regulatory bill cleared another legislative hurdle Wednesday as the North Carolina Senate Committee on Regulatory Reform advanced House Bill 402, which was previously referred to as the Regulations from the Executive in Need of Scrutiny (REINS) Act. The REINS Act would require legislative approval of executive branch rulemaking when the estimated economic impact exceeds $20 million. Proponents say it’s a matter of democratic accountability, wh…

Bring Back the REINS Act

One important way the Senate can improve the House-passed Big Beautiful tax bill would be to include the REINS Act. This would stop major new regulations, unless they are individually approved by majorities of the House and Senate.  This de facto regulatory freeze would dramatically improve business conditions and would, according to the Heritage Foundation, reduce the deficit by north of $1 trillion over 10 years – enough to pay for lowering th…