Regulations by the NumbersPosted by Randy | February 22, 2011
$26.5 billion – total economic cost of the unprecedented 43 major regulations imposed by the Administration in 2010.
6,123 – number of additional pages of regulations and Federal Register notices in the first 9 months after passage of Obamacare.
$1.75 trillion – annual total regulatory costs to American businesses, nearly twice as much as all individual income taxes collected in 2010.
$10,585 – costs in federal regulations each year per worker in a small business with fewer than 20 employees.
36% – average additional cost per employee that small businesses incur relative to larger firms, to comply with federal regulations.
I have cosponsored H.R. 10, the Regulations from the Executive in Need of Scrutiny (REINS) Act, which would restore a system of checks and balances to federal regulations and rein in the costly overreach of federal agencies that stifles job creation and hinders economic growth. I believe this legislation and the current environment in Washington offers us the best opportunity we have had in decades to roll back some of these burdensome regulations.
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