Report: Federal regulations costing US $1.9T annually
Fox News reports on Clyde Wayne Crews's annual report on the costs of federal regulations.
The annual Ten Thousand Commandments report was released by the Competitive Enterprise Institute, a fiscally conservative public-policy group.
The report exposes the “hidden” taxpayer costs associated with federal regulations and intervention, according to author Clyde Wayne Crews Jr., vice president of policy at CEI.
The estimated $1.9 trillion cost of complying, according to the report, exceeds the $1.82 trillion the IRS was expected to collect in 2015 personal and corporate income taxes.
Crews argued that regulatory costs get little attention in policy debates because, unlike taxes, they are unbudgeted and often indirect, which make them difficult to quantify.
“But the impacts of burdensome regulations are very real,” Crews said.
Read the full article at Fox News.