Congress Should Get Ready to ‘SCRUB’ Regulatory Rulebooks
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.