InsideSources highlights Wayne Crews’s calculated cost of federal regulations from his annual study.
According to the Competitive Enterprise Institute, the cost of complying with government regulations represented a “hidden tax” of about $5,888.90 for every man, woman and child in the United States. CEI says these regulations create inefficient processes and useless paperwork that amount to $1.9 trillion in waste.
Instead of removing individual, costly regulations in a piecemeal fashion, lawmakers could repeal thousands of unneeded rules in one pass, by making into law the SCRUB Act, which would then repeat the process each year, saving about $285 billion in wasted effort and money annually.
Read the full article at InsideSources.