Tags: Barack Obama | Money | Obama | Regulation Spending | US Economy

Heritage Report: Cost of Obama Regulations Surpasses $100 Billion

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By    |   Monday, 23 May 2016 03:56 PM

The Obama administration has been on a regulatory expansion spree, adding 229 major regulations since 2009 at an annual cost of $108 billion, according to a report from the conservative Heritage Foundation.

The report, "Red Tape Rising," released Monday, states that 43 new major rules were added in 2015, increasing regulatory costs by more than $22 billion alone.

"The effects of this rampant rule-making are widespread," according to the report, which emphasized the higher energy rates from the Environmental Protection Agency's "Clean Power Plan," and higher food prices because of "excessively prescriptive food production standards."

The report also hits the negative effects of Dodd-Frank financial regulations, Obamacare costs and restrictions and hits on Internet investment and innovation because of "network neutrality rules dictated by the Federal Communications Commission."

"The tide of regulation is expected to rise even higher in 2016," the report warns.

"Historically, rule-making increases as presidents scramble to fulfill their regulatory agenda before leaving office," the report states. "With 144 new rules already in the pipeline, Americans should be prepared for a regulatory surge before year's end."
The report called on lawmakers to undertake reforms to slow the rapid rise of costs.

"Immediate reforms should include the requirement that legislation undergo an impact analysis before a floor vote in Congress, as well as a requirement that every major regulation obtain congressional approval before taking effect," authors advised.

"Sunset deadlines should be required for all major rules, and independent agencies should be subject to the same White House regulatory review as executive branch agencies."

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The Obama administration has been on a regulatory expansion spree, adding 229 major regulations since 2009 at an annual cost of $108 billion, according to a report from the conservative Heritage Foundation.
Obama, Regulation Spending, US Economy
277
2016-56-23
Monday, 23 May 2016 03:56 PM
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