It Only Took Eight Months For Biden’s Administration To Churn Out $1.2 Trillion In New RegsWallace White
Contributor
August 05, 2024 1:38 PM ET
President Joe Biden’s administration has added over a trillion dollars in compliance costs for new regulations so far this year, according to the American Action Forum (AAF).
Since January 1, 2024, the Biden administration racked up $1.29 trillion in total compliance costs for regulations across the federal government, with $1.25 trillion of the cost attributed to 61 regulatory final rules, the AAF reported Monday. Biden has added more financial and administrative burden from regulatory activities than either former presidents Donald Trump or Barack Obama, totaling $1.69 trillion from inauguration day on January 20, 2021 to August 2, 2024.
Moreover, 42 proposed rules that haven’t taken effect that would add $46.8 billion in compliance costs, according to the AAF. The Biden administration added 982 final rules from federal regulators so far in his term.
Additionally, the Biden administration has totaled 308.9 million added hours of paperwork burden in his term, according to the AAF. Just this year, the administration added an estimated 68.9 million hours in paperwork, with 23.5 million coming from final rules. (RELATED: ‘EV Mandate’: Biden Admin Finalizes Stringent Tailpipe Emissions Standards)
“As we have already seen from executive orders and memos, the Biden administration will surely provide plenty of contrasts with the Trump administration on the regulatory front,” the AAF said. “And while there is a general expectation that the current administration will seek to broadly restore Obama-esque regulatory actions, there will also be areas where it charts its own course.”
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