After analyzing 36 new regulations passed under the Obama administration, American Action Forum finds that the regulatory costs of several everyday items could lead prices to increase by a total of $11,000.
"There's often this perception that companies pay the cost of regulation, but often these costs are passed on to consumers
, and it's individuals who are paying these regulatory costs," Sam Batkins, AAF's director of regulatory policy, told John Bachman and Ed Berliner on "America's Forum" on Newsmax TV on Wednesday.
Batkins explained that these increases will affect anyone who purchases items such as "a dishwasher, refrigeration equipment, clothes washer, light bulb," in addition to cars and mortgages.
Because of changes in fuel efficiency standards, cars "are going to be $3,000 more expensive," but this regulation will also "have an impact on the economy and the manufacturing industry" because consumers will be more hesitant to purchase a new vehicle because of the higher cost, he said.
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Under the Dodd-Frank Act, creditors lending money to high-risk home buyers will need an appraisal for the home as well as to make sure the applicants have a copy of the appraisal, which averages about $350.
Monthly mortgages could also go up because of a new rule from the Environmental Protection Agency.
The price increases could even affect some consumer items that no one can avoid paying for, such as electricity.
"We found for electricity, those [prices] would go up by more than $135 annually," Batkins said.
Emily Cain of the Office of Management and Budget
told Fox News that the OMB has not had a chance to review the AAF report, "so we do not know if it is as deeply flawed and misleading as some of the group's previous reports."
Batkins said that "if it's flawed and misleading, it's only because the estimates from the administration are flawed and misleading, because we use all of their estimates in our figures."
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