The Obama administration’s new EPA regulations have pushed regulatory costs over the $1 Trillion dollar mark.
The new implementation of EPA rules on heavy trucks has boosted the 10-year regulatory burden on America past $1 trillion, 75 percent of which have been imposed by the Obama administration.
Sam Batkins, director of regulatory policy for the watchdog group American Action Forum (AAF) did a study that dates back to 2005, when George W. Bush was president, and said that Obama is responsible for about three-quarters of the added regulatory costs.
Obama has already broken records for new regulations and added red tape this year and still has 50 days in office.
The Washington Examiner reported;
That amounts to a one-time charge of $3,080 per person according to a new analysis from American Action Forum.
“In other words, each year every person, regardless of age, in the nation is responsible for paying roughly $540 in regulatory costs. These burdens might take the form of higher prices, fewer jobs, or reduced wages. These burdens might take the form of higher prices, fewer jobs, or reduced wages, “AAF’s Sam Batkins stated.
The new high in regulatory costs, said Batkins, came after new fuel standards for trucks were implemented.
Batkins also discovered through his analysis that;
“The Obama Administration surpassed 500 major regulations last summer, imposing $625 billion in cumulative costs. Earlier this year, regulators published the administration’s 600th major rule, increasing burdens to $743 billion. Now, thanks to data from the last term of the Bush Administration and another billion-dollar rule from EPA, the regulatory tally has surpassed $1 trillion.”
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