Bloomberg BNA highlights Wayne Crews’s calculated annual cost of federal regulations.
Environmental and public interest groups say the campaign to nullify various regulations relies on industry arguments that often inflate compliance costs and economic impacts for regulations and are tallied by the U.S. Chamber of Commerce and conservative think tanks such as the Heritage Foundation and the Competitive Enterprise Institute.
McCarthy, the majority leader, often cites a CEI figure that puts the total cost of rules at about $1.89 trillion—or 10 percent of total gross domestic product—which he notes comes out to a cost of $15,000 for every American household. But those figures don’t typically account for benefits provided by rules, or take into account new technologies and industries that emerge as a result of regulations, such as pollution control technologies.
Read the full article at Bloomberg BNA.