May 23, 2016
The report, “Red Tape Rising, 2016,” documents that the Obama Administration since 2009 has increased regulatory costs by $108 billion a year, adding 229 new major regulations. More than $22 billion in new regulatory burden was added in 2015 alone, with the imposition of 43 new major rules.
“This rampant rulemaking doesn’t just hurt businesses, it hits consumers hard,” said Katz. “Every household is affected by restricted access to credit; higher energy rates; fewer health care choices and higher medical costs; and reduced Internet investment and innovation. The need for reform is urgent.”
Hundreds more rules are in the pipeline, according to the report, and 2016 could well be Obama’s busiest. Historically, rulemaking increases as presidents scramble to fulfill their regulatory agenda before leaving office.
The full report is available here: http://www.heritage.org/research/reports/2016/05/red-tape-rising-2016-obama-regs-top-100-billion-annually.
You can also view a Daily Signal article on the cost of regulation HERE.