Data Spotlight: 2014 Regulations Will Cost $181.5 Billion
According to the Competitive Enterprise Institute, (CEI) the total number of pages in the Federal Register (the federal government’s daily compendium of regulations, proposed regulations and White House executive orders) hit 78,978 in 2014, the fifth-highest number in history. The White House finalized 3,541 rules last year, 659 of which are expected to have an impact on the nation’s small businesses. The American Action Forum estimated the finalized rules will cost U.S. businesses and consumers a total of $181.5 billion.
CEI, meanwhile, also noted the Federal Register has hit record highs nearly every year President Barack Obama has been in office. Another 2,375 rules proposed last year or in years before remain under consideration in 2015.
According to The Washington Examiner, during President Obama’s term the White House has issued 29 regulations for every one law passed by Congress.