Obama Administration Adds $100 Billion Annually in New Regulations
Obama Administration Adds $100 Billion Annually in New Regulations
(Washington, DC) – According to a new study by the Heritage Foundation, the Obama Administration has imposed 229 major new regulations since 2009, with an average annual cost of $108 billion. This growing regulatory burden is borne by individuals, employers, and state and local governments, in the form of higher taxes, higher prices, reduced wages, and lower economic growth. The flood of new regulations is creating a significant backlog in the federal Office of Information and Regulatory Affairs (OIRA), which is tasked with estimating the impact of new federal rules. According to OIRA data, 21 of the 133 regulations (21 percent) awaiting review in May had been pending for more than 90 days, exceeding the maximum time allotted.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“Government regulations should be limited, narrowly targeted at the problems they are intended to fix, and implemented in the most cost-effective, transparent way possible. When our elected representatives delegate authority to write regulations to unelected bureaucrats, and those regulations are not properly vetted and opened to public review, the process goes wrong. When that happens, regulations become costly and burdensome, and they often worsen the problems they were intended to address. Out-of-control regulations keep hard-working entrepreneurs and workers from prospering based on their own innovative ideas and ingenuity. We have seen that with the health care law and other government programs. It is time to rein in the out-of-control growth of new and costly Washington rules and mandates, to ensure they work for the people.”
For Interviews with a representative from The LIBRE Initiative, please contact Brian Faughnan, 703-678-4581
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