The Biden adminstration’s regulatory burdens have cost almost $10,000 for each American household, standing in contrast to the Trump administration, which reduced such costs, according to a recent report by the Committee to Unleash Prosperity.
“The Biden administration has so far been adding regulatory costs at a rate of $617 billion per year of rulemaking, not counting regulatory costs created by statutes and other nonrule regulatory actions,” the June 2023 report (pdf) said. “Assuming that the United States has 123 million households, the amount is equivalent to about $9,600 per household for the rules finalized in 2021 and 2022.” In addition, the Biden administration has more policies and regulations in the pipeline that could skyrocket regulatory costs, it warned….