For Immediate Release
May 28, 2015
Obama Administration Continues to Impose Rules without Assessing Costs
(Washington D.C.) – New regulations put forward under the Obama administration are costing the economy nearly $80 billion annually, according to a study by The Heritage Foundation. During President Obama’s first six years in office, it is estimated that 184 major regulations have been added, often with little attention to the high costs they impose. Through implementation methods that may not be transparent – such as the sue-and-settle tactic – regulations are not always vetted or processed through the proper channels. Approximately 45 percent of new regulations enacted by independent agencies – and 12 percent by executive agencies — have not gone through proper analysis of regulatory impact nor been approved by Congress.
Daniel Garza, Executive Director of The LIBRE Initiative, released the following statement:
“It’s appalling how this administration is enabling agencies to impose costly and damaging regulations that ultimately hurt small businesses and put Hispanic workers at a great disadvantage. Latinos are creating new businesses attwice the national rate, making them the most vulnerable group to be held back by burdensome regulations.
There are countlessexamples of big businesses and government agencies working for more regulations that have little to do with consumer protection and much to do with giving them an advantage over smaller competitors. Hispanics account for2.3 million of the firms in the U.S., and government cronyism – through regulations – is threatening the positive economic impact these firms can have on the nation’s economy. There is a place for new, targeted, cost-effective regulations – but this tidal wave of new hurdles is hurting more than helping. Congress needs to take steps to rein in excessive regulation and thereby allow Americans the freedom to prosper.”
The LIBRE Initiative is a non-partisan, non-profit, national grassroots organization dedicated to informing the U.S. Hispanic community about the benefits of a constitutionally limited government, property rights, rule of law, sound money supply and free enterprise through a variety of community events, research and policy initiatives. Latinos have been disproportionately hurt by the economic downturn suffering from higher levels of unemployment and poverty. Our aim is to equip the Hispanic community with the tools they need to be prosperous. Connect with us on Facebook at The LIBRE Initiative and @LIBREInitiative on Twitter. Visit: www.thelibreinitiative.com