OMB: 13-year high for new and costly federal regulations
By Paul Bedard | May 29, 2014 | 3:34 pm
Topics: Washington Secrets OMB Economy Competitive Enterprise Institute
The number of complicated federal regulations with an economic impact of $100 million or more has hit a 13-year high for the “spring” season, according to the Office of Management and Budget.
The group that tracks regulations, the Competitive Enterprise Institute, told Secrets that Obama has issued far more big dollar regs in his first six years than former President Bush: 376 for Obama to 287 for Bush.
“And,” said CEI's Clyde Wayne Crews Jr., “this is not even counting the pen' and phone' rulemaking happening off the books.” He just blogged on the issue.
OMB publishes a spring and fall “Unified Agenda of Federal Regulations” that details what's in the regulatory pipeline. Their latest spring report, said Crews, shows 3,348 rules, a slight increase from the fall 2013 report of 3,305.
Those dubbed “economically significant” and that will impact the economy by $100 million or more, rose from the Fall report’s 191 rules to 197. According to the report, 129 are active, 38 have been completed, and 30 are long-term.
Regulations can have a big impact on the economy, one reason why OMB has been reviewing older rules with an eye on eliminating the least effective
In his latest report on the price of regulations, Crews said that U.S. households “pay”$14,974 annually in regulatory hidden tax.”http://washingtonexaminer.com/omb-13-year-high-for-new-and-costly-federal-regulations/article/2549066