New Regulations Cost U.S. Taxpayers a Mint
Obama is speeding up several new regulations in order to thwart a future Congress or president from repealing them, as reported by the watchdog group American Action Forum. The cost to the American people of these new regulations? A cool $118 billion, give or take. This from a president who has doubled the national debt from $9 trillion to $18 trillion, more debt than all previous presidents accrued together in more than 200 years.
“The early flurry of activity next year could be in response to fears that the Congressional Review Act (CRA) could be used to rescind some rules in 2017,” Sam Batkins, AAF’s director of regulatory policy, writes. “The later the administration publishes significant rulemakings in 2016, the more likely Congress and the next president will be able to repeal those rules.”
The regulations include rules on tobacco products, medications, conservation standards and Arctic drilling.
The $118 billion dollar figure is based on just 38 figures that actually had monetary amounts attached and could go higher or lower, Batkins wrote.
“The administration’s time in office is coming to a close and there appears to be an effort to publish final rules during the first quarter of next year,” he said. “As rulemaking timelines inch toward the end of 2016, lawmakers in the next Congress could take aim at these ‘midnight’ regulations.”
Source: www.newsmax.com
