The Competitive Enterprise Institute released their annual “10,000 Commandments” report which tallies the cost of federal regulations on the American public. They amount to more than all the corporate and individual taxes the IRS is expected to collect.
The cost of Federal regulations reached $1.88 trillion and an annual cost of $15,000 per US household.
The lawmaking bodies in this country are federal agencies, not Congress. It’s not only regulations, it’s guidance documents, memoranda, bulletins, and so many other ways that these agencies tell these companies what they must do.
Our lawmakers sit around all day voting for laws and then pass all the work of lawmaking on to government employees and then complain about the agencies after they pass their laws.
In 2015, 114 laws were enacted by Congress during the calendar year, while 3,410 rules were issued by agencies. These unelected, unaccountable bureaucrats are deciding how these laws will be paid for. That’s 30 times the number of laws that got through Congress.
The administration is supposed to do a cost benefit analysis on any regulation that will cost more than $100 million but they rarely do it. They do what they want which is often nothing.
There are 60 federal departments, agencies, and commissions with 3,297 regulations in development at various stages as they travel through the process, CEI reports. The top five federal rulemaking agencies account for 41 percent of all federal regulations. These are the Departments of the Treasury, Commerce, Interior, Health and Human Services, and Transportation.
They are all pencil pushers sitting in some cubicle taxing you and you don’t get a vote on it.
CEI Vice President for Policy Clyde Wayne Crews Jr. who authored the report, accurately describes the regulations hidden costs as hidden taxes.
“The federal government has become very savvy in hiding costs by expanding their reach beyond taxes into regulations,” said Crews. “Unfortunately, regulatory costs get little attention in policy debates, because unlike taxes, they are difficult to quantify because they are unbudgeted and often indirect. But the impacts of burdensome regulations are very real and increase costs for consumers and businesses, limiting productivity and a thriving free market.”