Obama’s Regulatory Burden 400% Greater than Bush’s
★Calliope★
2012/07/23 00:53:30
Read/comment/rave - thanks!
This is long but well worth the read. This report details exactly how and why Obama and his administration are BAD for the US economy.
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This is long but well worth the read. This report details exactly how and why Obama and his administration are BAD for the US economy.
-------------------------------------------------------------...
U.S. House of Representatives
Committee on Oversight and Government Reform
Darrell Issa (CA-49), Chairman
Continuing Oversight of Regulatory Impediments to Job Creation: Job
Creators Still Buried by Red Tape
STAFF REPORT
U.S. HOUSE OF REPRESENTATIVES
112
TH
CONGRESS
COMMITTEE ON OVERSIGHT AND GOVERNMENT REFORM
JULY 19, 20122
Summary
Rules and red tape imposed by the federal government choke economic expansion and job growth, according to job creators themselves. Despite hearing this message loud and clear, regulations implemented during the Obama Administration have moved aggressively in the opposite direction—the regulatory state continues to grow, adding billions of dollars in compliance costs to businesses and job creators. These costs will ultimately be paid by consumers.
Although Obama Administration officials frequently proclaim it has issued fewer
regulations than its predecessors, analysis by the Committee on Oversight and Government Reform reaches a far different conclusion: the Obama Administration has issued far more of the most expensive group of regulations with a higher overall economic cost.
The aggressive march of the regulatory state has been the subject of an ongoing, multiyear examination by the Committee. This staff report expands on earlier Committee work and documents how the regulatory state is proliferating with dire consequences for the economy, and how federal regulations continue to impede job growth and business expansion.
From 2010 to 2011, the number of final rules issued by federal agencies rose from 3,573 to 3,807—a 6.5 percent increase. During that same time frame, the number of proposed rules that will be finalized increased 18.8 percent.
The published regulatory burden for 2012 could exceed $105 billion, according to the American Action Forum, headed by a former director of the Congressional Budget Office. Since January 1, the federal government has imposed $56.6 billion in compliance costs and more than 114 million annual paperwork burden hours. Beyond this “routine” rulemaking, the number of rules with significant costs is on the rise. Analysis from the Heritage Foundation indicates that the Obama Administration issued 106 new rules in its first three years that collectively cost taxpayers more than $46 billion annually—four times the number of “major” regulations and five times the cost of rules issued in the prior administration’s first three years.
The aggressive march of the regulatory state has been the subject of an ongoing, multiyear examination by the Committee. This staff report expands on earlier Committee work and documents how the regulatory state is proliferating with dire consequences for the economy, and how federal regulations continue to impede job growth and business expansion.
From 2010 to 2011, the number of final rules issued by federal agencies rose from 3,573 to 3,807—a 6.5 percent increase. During that same time frame, the number of proposed rules that will be finalized increased 18.8 percent.
The published regulatory burden for 2012 could exceed $105 billion, according to the American Action Forum, headed by a former director of the Congressional Budget Office. Since January 1, the federal government has imposed $56.6 billion in compliance costs and more than 114 million annual paperwork burden hours. Beyond this “routine” rulemaking, the number of rules with significant costs is on the rise. Analysis from the Heritage Foundation indicates that the Obama Administration issued 106 new rules in its first three years that collectively cost taxpayers more than $46 billion annually—four times the number of “major” regulations and five times the cost of rules issued in the prior administration’s first three years.
Workers and job creators confirm that the oppressive regulatory red tape environment continues to hinder improvement. A recent Gallup poll found that nearly half of small businesses are not hiring because they are worried about new government regulations. Forty four percent of likely voters say they believe regulations from the Environmental Protection Agency (EPA) hurt the economy.
Research conducted by The Winston Group found that 53 percent of voters say federal regulations are one of the major reasons the economy is struggling; 59 percent think that cutting regulations is vital to improving the economy, and 52 percent indicate that stopping new regulations would free employers to begin hiring. According to the National Federation of Independent Business, the issue of regulation and red tape is one of the single most important problems for small businesses. These views are held not just by poll respondents or business group members—senior Obama Administration officials have spoken out on the need to actively address regulatory impacts on job creation and economic growth.
The White House has praised the Committee for pointing out deficiencies in its approach to regulations. Office of Information and Regulatory Affairs (OIRA) Administrator Cass Sunstein said “I’m especially grateful to you Mr. Chairman and to the committee as a whole for its constructive and important work on this issue over the past months. It’s very significant to try to get regulation in a place where it’s helpful to the economic recovery.”
[...]
The White House has praised the Committee for pointing out deficiencies in its approach to regulations. Office of Information and Regulatory Affairs (OIRA) Administrator Cass Sunstein said “I’m especially grateful to you Mr. Chairman and to the committee as a whole for its constructive and important work on this issue over the past months. It’s very significant to try to get regulation in a place where it’s helpful to the economic recovery.”
[...]
Key Findings
• From 2010 to 2011, the number of final rules issued by federal agencies rose from 3,573 to 3,807—a 6.5 percent increase. During that same time frame, the number of proposed rules increased 18.8 percent.
• The published regulatory burden for 2012 could exceed $105 billion, according to the American Action Forum, headed by a former director of the Congressional Budget Office.
• Analysis from the Heritage Foundation indicates that that Obama Administration issued 106 new rules in its first three years that collectively cost taxpayers more than $46 billion annually—four times the number of “major” regulations and five times the cost of rules issued in the prior administration’s first three years.
• In the past decade, the number of economically significant rules in the pipeline—those that could cost $100 million or more annually—has increased by more than 137 percent.4
• Over 40 EPA regulations cited by job creators as barriers to growth and expansion in the Committee’s February 2011 staff report remain a problem.
• The Boiler Maximum Achievable Control Technology (MACT) rule proposed in 2010 will cost job creators up to $15 billion in regulatory compliance costs. A similar “Utility” MACT rule would cost providers $9.6 billion annually and result in the shutdown of 25 percent of U.S. power generating units.
• EPA’s proposal to regulate coal combustion residuals (“coal ash”) usurps states’ previous role and exerts unprecedented federal control over the utility industry. More than half of the complaints received from business and industry groups expressed concern last year, while half of the complaints are new. Compliance costs range from $78-110 billion over the next 20 years while job loss estimates range from 39,000, under a low estimate, to 316,000, under a high estimate.
• EPA’s E15 ethanol rule “places consumers and vehicle manufacturers at significant risk” but is proceeding despite these concerns. EPA estimates industry compliance at $3.64 million per year but also notes that half of existing retail outlets are incompatible with the fuel, and would need to purchase and install new equipment.
• Proposed fuel economy standards will increase the cost of new vehicles by at least $4000 per vehicle while delivering less than half that amount in fuel savings and could result in the loss of as many as 220,000 automotive jobs.
• Tier 3 gasoline standards proposed by EPA would impose a total economic cost of
approximately $8 billion on the industry and raise the cost of gasoline by six to nine cents per gallon for consumers.
• Rules attributed to the Dodd-Frank Act will grow from 36 implemented today to roughly 400 required under the act. Rules governing “conflict minerals” such as gold, tin, tantalum and tungsten will cost the industry $71 million per year and impact as many as 5,000 companies. The National Association of Manufacturers estimates true compliance costs for the rule to be $9-16 billion.
• A U.S. Chamber of Commerce/Business Roundtable survey notes that those impacted by a proposed “end user” rule effecting derivatives would have to sideline up to $6.7 billion in working capital and cost 100,000 jobs.
• The National Labor Relations Board’s “notice posting rule” promoting unionization in the workplace will cost employers an estimated $386.4 million and in the words of one industry organization, “could set a disturbing precedent and chill job creation.”
The Committee is publishing this staff report to tell the American people directly what job creators say is the true cost and impact of the Obama Administration’s regulatory agenda.
[...] Read more at the link below.
Read More: http://oversight.house.gov/wp-content/uploads/2012...
Top Opinion
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doofiegirl POTL~PWCM~JLA 2012/07/23 17:04:25
+9I guess I have to repeat what I've been saying since Jan. 2009-------------- NOBAMA 2012!
NOVEMBER 6, 2012
Enough
Already
Let's start a BEA Party!
I know a lot of business folk that would gladly pay dues and devote their time.
And these idiots still support him.
A closeted Muslim, rumors to be homosexual, self-confessed best friends with tyrants and dictators around the planet, factually had a hand in killing of the unborn repeatedly and a Communist on top of it.
Members of the black community think he is better than sliced bread.
It's very disheartening.
Class always wins out, however.