Obama’s Regulations Cost Businesses $80 Billion Per Year
Via The Hill:
The Obama administration’s regulatory footprint is more than twice as large as the Bush administration, according to a new study.
During President Obama first six years in office, his administration issued 184 major rules targeted at the private sector, according to an analysis from the conservative Heritage Foundation.
The cost of those regulations is estimated at $78.9 billion each year, the study found.
By comparison, the Bush administration issued 76 major rules over the same period, which imposed about $30.7 billion billion each year on businesses, according to the study.
“President Barack Obama has repeatedly demonstrated his willingness to act by regulatory fiat instead of executing laws as passed by Congress,” Heritage noted.
“The need for reform of the regulatory system has never been greater,” it added. “The White House, Congress, and federal agencies routinely ignore regulatory costs, exaggerate benefits, and breach legislative and constitutional boundaries.”