K-12 tax & $pending climate: “Biden-Harris Regulations Cost the Average Family Almost $50,000”
CTUP and Casey Mulligan:
Government regulation may be the single greatest policy barrier to prosperity. The federal executive branch alone issues thousands of new regulations each year that add to the 200,000 pages of federal rules already in place.
With so many components, regulation can be difficult to distill into important trends or even to comprehend its cumulative costs. This report compares the regulatory records of Presidents Biden, Trump, and Obama based on a dataset of more than 5,000 federal agency rules.
- The Biden-Harris administration is on pace to add $47,000 in net present value regulatory costs per household from rules finalized during its first term.
- This is almost twice the costs imposed during President Obama’s first term.
- $47,000 in net present value corresponds to an annual cost of $6,300 for ten years or an annual cost of $3,300 forever.
- Even without counting Operation Warp speed, President Trump’s first term reduced regulatory costs by $11,000 per household.
