The Pandemic Is a Reminder That Many Regulations Are Both Costly and Unnecessary
Reason cites Vice President for Policy Wayne Crews on CEI’s 2020 10kc report:
Instead, to calculate the cost of these sorts of rules, we must turn to independent estimates like The Ten Thousand Commandments, an annual survey of the cost of the federal regulatory state produced by Clyde Wayne Crews, the vice president for policy at the Competitive Enterprise Institute, a libertarian think tank.
The latest edition of the report, out today, tabulates the total yearly cost of federal regulation at $1.9 trillion. That’s equal to about 9 percent of the total national economy. In addition, the federal government spent about $72 billion to administrate these rules, according to an estimate by The Weidenbaum Center at Washington University in St. Louis and the George Washington University Regulatory Studies Center in Washington, D.C. That breaks down to an average of about $14,000 per household annually. If it were a tax, the total burden would be larger than all corporate and personal income taxes combined.