Texas Governor Rick Perry uses Wayne Crews's estimated cost of federal regulations in a speech at American Legislative Exchange Council's annual meeting. Governor Perry's speech was compiled and added to Forbes.com.
Regulations like minimum wage hikes and Obamacare’s employer mandate drive up the cost of hiring new workers.
That means that companies hire fewer people.
But it also means that the price of basic consumer goods goes up.
Earlier this year, the Competitive Enterprise Institute estimated that federal regulations cost American businesses as much as $1.9 trillion a year.
That’s nearly $15,000 per U.S. household. If you add in state regulations, the problem gets even worse.
Read the full article at Forbes.