Today, the House of Representatives, with support from Rep. Ed Royce (R-CA), passed the Regulations from the Executive in Need of Scrutiny (REINS) Act. The legislation requires Congressional approval of any new regulations that could have an annual economic impact of $100 million or more.

"I voted for the REINS Act to improve the regulatory process that America’s job-creating small businesses face every day. According to the Small Business Administration, the U.S. spent $1.75 trillion in regulatory compliance costs in 2008. The time and money small businesses are forced to divert towards regulations should instead be used to create and innovate.

"Common sense regulation is necessary but there has to be a balance. This legislation gives Congress the tools to review the regulations that may have a significant economic impact before they are implemented. If we can remove regulatory burdens that are unnecessary and duplicative or streamline them, I believe we can get Americans working."

NOTE: Earlier this year, Rep. Royce launched American Job Creators to give California’s job creators the opportunity to detail how government regulations are holding them back. For more information on American Job Creators, please click here.

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