US Households Lose More Than $15,000 a Year, Thanks to Biden Admin Regulations, Report Says; Regulations Cost Families $15,000, Biden-Harris Swamp Plans More

US Households Lose More Than $15,000 a Year, Thanks to Biden Admin Regulations, Report Says

Federal regulatory costs tax the average American household more than $15,000 per year under the Biden administration, according to a Competitive Enterprise Institute annual report released Tuesday.

Households pay an average of $15,788 in hidden regulatory costs, according to the annual report, written by Clyde Wayne Crews and titled “Ten Thousand Commandments.” That’s more than what they pay for food, clothing, education, or any other household expense other than housing, consuming 17% of income and representing 22% of household expenses.

Federal regulations’ total compliance costs and economic effects add up to at least $2.117 trillion, rivaling individual income-tax costs estimated at $2.328 trillion. Regulatory costs are nearly four times the corporate income tax of $546 billion.

High-significance rules established by the Biden administration outnumber those of the Bush, Obama, or Trump administrations.

The changes highlighted in this year’s report can be attributed to President Joe Biden’s Executive Order 14094, titled “Modernizing Regulatory Review,” Crews said.

“This order cemented Biden’s Day One changes that had already dismantled every regulatory liberalization measure established during the Trump administration,” Crews told The Daily Signal.

Biden can be seen as the ‘Edward Scissorhands’ of regulatory disclosure. Not only did he end the one-in, two-out cost freeze for regulations and eliminate a vital portal revealing hidden regulatory ‘dark matter,’ but his 2023 executive order also raised the threshold for rules considered significant enough to warrant extra scrutiny from $100 million in annual economic effects to $200 million.

According to Crews, the same directive instructed the Office of Management and Budget to rewrite the “Circular A-4″ guidance on how and when agencies should analyze regulations. —>READ MORE HERE

Regulations cost families $15,000, Biden-Harris swamp plans more:

Regulations imposed by federal agencies under the Biden-Harris administration cost households at least $15,000 a year and the nation $2.1 trillion, a “swamp” tax that is more than families spend on food, clothing, and education, according to a new report.

As bad as those costs seem, they are likely much higher because the administration changed transparency rules after coming into office, hiding the impact of some regulations, according to the Competitive Enterprise Institute’s annual report on the federal regulatory state, Ten Thousand Commandments.

“Biden’s pursuit of various whole-of-government initiatives and transformation of OMB into a cheerleader for, rather than a watchdog over, regulation, I think he can greatly contribute to household costs far worse than what we imagine,” said the author of the report, CEI regulations expert Clyde Wayne Crews.

His report is eagerly anticipated by supporters of cutting red tape because it gives an accurate picture of the costs of federal rules and shows how federal bureaucrats have taken over the job of Congress, which is supposed to write regulations.

One key element of the report is the “Unconstitutionality Index,” which shows the number of rules approved by agencies for every law passed in Congress. In this year’s report, Crews found that agencies OK’d 3,018 final rules, though Congress passed only 68 regulatory laws, for a ratio of 44 regulations for every law.

The report also found 97 “economically significant” rules that cost the nation $100 million or more just in the past six months, “far exceeding the previous 10 years.”

The new report showed how Biden and Harris have sidestepped the political division in Congress to get their liberal programs through with executive orders and regulations. —>READ MORE HERE

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