Thursday, January 9, 2014

Study: New Federal Regulations Cost Economy Staggering $112 Billion In 2013.

Study: New Federal Regulations Cost Economy Staggering $112 Billion In 2013

I can only imagine how many jobs these regulations have cost our economy.
New federal regulations cost the economy $112 billion in 2013, according to a newly released tally of government figures from the American Action Forum.
Led by the Environmental Protection Agency, the Department of Energy and health care agencies, the federal government added 157.9 million hours of paperwork for U.S. workers.
American Action Forum, a right-of-center Washington think tank, found in an analysis of Office of Information and Regulatory Affairs and Federal Register data released Wednesday that regulators have published $494 billion in net costs in final rules from 2009 through 2013.
Two major proposed rules, relating to emissions standards and efficiency standards for motors, drove the regulatory costs for 2013. Yet, according to AAF, overall regulatory activity was down from previous years in President Obama’s tenure. The administration published 77 new major regulations, versus 100, in 2010. Any regulation that results in an annual effect on the economy greater than $100 million is considered major.
Thank You Wash Examiner, Fox Nation, and Zip.

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