The Washington Post discusses the cost of federal regulations with Wayne Crews.
Now regulation is pervasive. It touches air and water pollution, pensions, vehicle fuel efficiency, the Internet (“net neutrality” rules), home mortgages, political campaign contributions . . . and much more. The annual outpouring of new rules and proposed rules is mind-boggling. In fiscal 2015, the Federal Register — containing final and recommended rules — totaled 80,260 pages, says the Competitive Enterprise Institute (CEI), a market-oriented think tank.
Some economists and interest groups put costs much higher. At CEI, Wayne Crews Jr. found that in 2015 all federal regulations cost $1.9 trillion, an amount about half the federal budget. Although Crews didn’t estimate regulations’ benefits, his higher cost figure suggests a substantial regulatory burden. Other studies have even higher estimates.
Read the full article at The Washington Post.