I sat down with Dr. Wayne Brough to talk regulation this week. How much does it cost? How much damage is this administration doing? Here are some highlights:
Obviously, the spending debate has been at the forefront of public opion, but we cannot ignore regulation.
- Regulations are a hidden tax. One study found that the total cost of regulation in 2010 was $1.75 trillion.
- Regulations can raise prices and hamper businesses at a time when economic recovery is paramount.
Obama has launched one of the most aggressive regulatory agendas of any president.
- His administration has already issued 75 major rules, costling $40 billion.
- New regulations coming for ObamaCare, Dodd-Frank financial reform, the EPA Train Wreck
EPA is prime example of regulatory overkill
- Ozone rule—tightening the standard two years into the review cycle.
- New standards will somewhere between 70ppb and 60ppb.
- At these levels, 75 to 90 percent of the counties that have monitors will be out of attainment.
- Results vary by region. In Ohio, every county would be out of attainment.
- Out of attainment, then a State Implementation Plan (SIP) must be adopted.
- Costly and expands EPA authority. Maybe even a FIP will be required.
This is just the tip of the iceberg. 40 more rules in waiting at the EPA. Billions of dollars and millions in lost jobs.