Obama’s New Regulations to Cost $1 Billion each…Annually
Posted by FactReal on August 31, 2011
|OBAMA: 7 PROPOSED REGULATIONS WOULD EACH TOP $1B
Via AP/Yahoo (Hat tip: Doug Powers)
|President Barack Obama says his administration is considering seven new government regulations that would cost the economy more than $1 billion each a year, a tally Republicans will pounce on to argue that Congress needs the power to approve costly government rules.
In a letter to House Speaker John Boehner, R-Ohio, Obama lists four proposed Environmental Protection Agency rules and three Transportation Department rules estimated to cost in excess of $1 billion. One of the proposed EPA rules — an update to the health-based standard for smog — is estimated to cost the economy between $19 billion and $90 billion. […]
The four environmental regulations, which target air pollution and coal residue primarily from coal-fired power plants, already have been attacked by House Republicans, who have said they would kill jobs and harm the economy. […]
Obama’s letter was in response to a Boehner request last week for more details from the president on the proposed costs of the most expensive regulations under consideration by his administration. Obama’s administration has identified 219 proposed regulations this year with a cost to the economy of more than $100 million each.
Boehner, in a statement, said the administration should now release detailed cost estimates for all those proposed regulations.
“At a time like this, with our economy struggling to create jobs, it’s misguided for the federal government to be imposing so many new rules with such enormous costs, even when some of those rules may be well-intentioned,” he said.
– Obama added $9.5 billion in new regulations last month