Entire Five Years Savings Equals One Month of Obama’s New Regulations

WASHINGTON, D.C. – Today, U.S. Senator John Barrasso (R-Wyo.) released the following statement regarding the Administration’s announcement today on regulations:

“The White House proved again that it’s not serious about cutting red tape that continues to destroy American jobs.   The Administration just unveiled a plan for publicity – not a plan for growth.  

“Cutting $10 billion in regulatory costs over five years is a drop in the bucket. In July alone, the Administration proposed over $9.5 billion in new regulatory costs. 

“The Environmental Protection Agency (EPA) is proposing to cut $1.5 billion in regulatory costs over five years. Just today, the EPA proposed a rule on energy exploration that will cost $1.5 billion. Once again, it’s impossible to defend the indefensible. 

“If President Obama really wants to reduce the burden on America’s job creators, he’ll take a hard look at his own policies.  He should face the reality of his red tape instead of simply looking in the regulatory rear view mirror.  Small businesses across the country are overwhelmed by the hundreds of new regulations stemming from the President’s health care law, financial reform bill and the EPA.  

“With 9.1 percent unemployment, Americans wants Washington to conduct meaningful regulatory reform that will make it easier for the private sector to create new jobs.  The new White House plan simply makes it easier for Washington to create more bureaucrats.”

5 Job Destroying Regulations Not Considered by White House Regulatory Review

1. Ozone National Ambient Air Quality Standards (EPA)
         • Approximately $1 trillion (EPA estimates)

2. Healthcare Reform Regulations (HHS)
         • Essential Health Benefits Regulation alone is $67 billion or more (Massachusetts Institute of Technology)

3. Financial Reform Regulations (CFTC/SEC/Treasury)
          • End User Cost Regulation alone will reduce capital spending by up to $6.7 billion annually (Keybridge Research)

4. Net Neutrality (FCC)
          • $62 billion of lost GDP (Entropy Economics)

5. Boiler MACT and Utility MACT standards (EPA)
          • $11 billion in compliance costs for Boiler MACT (American Forest and Paper Association) and $17.8 billion per year for Utility MACT (National Economic Research Associates)

Since the Administration’s Executive Order on Regulations (January 18, 2011) to today, the White House has introduced 2,305 final rules and 1,770 proposed rules.  

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