Under REINS, the numerous proposed regulations pertaining to health care, climate change, energy, financial regulation, and our economy would have to be submitted to Congress for approval. REINS would continue to allow the executive agencies charged with writing rules to propose draft rules, but would end the delegation of Congressional authority that has enabled these agencies to enact them unilaterally.
This is an absurdly bad idea. The point of delegating in the first place is that Congress doesn't have the expertise or time to make the necessary judgments. That's why we have the process we do: proposed rules are developed by experts in the relevant department, 2-3 months of public comment is sought and incorporated, and a final rule is issued. Indeed, Congressmen can weigh in on proposed rules during the comment period, just like anyone else. Some take advantage of that opportunity.
The bureaucracies in the executive branch tend to have a lot on their plate and they move through it methodically but it still generally takes a good while to get things done. Infusing that process with political theater from the only body that moves slower than the bureaucracy--Congress--is just absurd. Congress has oversight power over the bureaucracy and let's not forget that the rulemaking authority arises from each law that they pass. That is, in each law they write something like "so and so as determined by the Secretary [of the relevant department]." If they want to change the process for a given law, they can do that within the law at hand. They don't need this silly REINs Act.