A raft of regulations enacted by the Biden administration is pinching Americans’ wallets to the tune of nearly $10,000 per household as of the end of last year, according to a budget watchdog…
outlined in the Inflation Reduction Act; and higher standards for automobile emissions.
The report found that Biden had implemented fewer new regulations in his first two years in office than either of his two immediate predecessors. Costs for the president’s red tape in 2021 and 2022 clocked in at around $173.4 billion, according to government agencies. However, the watchdog pegged the costs at $616.7 billion, with Mulligan citing the feds’ “systematic and proven propensity to understate costs.”
The financial cost of rulemaking from the Biden, Trump, and Obama administrations according to the Committee to Unleash Prosperity.In sharp contrast to Biden, Trump’s deregulatory push led to roughly $11,000 in savings per household and eight years of Trump would’ve delivered nearly $21,000 in savings, the report estimated.
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