Pages: 1 2
Added costs include $1.8 billion a year for compliance and a one time implementation cost of $5.2 billion from new emission limits on industrial and commercial boilers and incinerators. The EPA said it would postpone the effective date pending its reconsideration. But the rules are still on the books, the Heritage study said. And they will be, pending judicial review or EPA reconsideration. Until then, business is constrained from “expansion, developing new products or making efficiency improvements.”
Included also are five sets of complicated regulations put forward by the Securities and Exchange Commission (SEC) to control financial institutions. The SEC calculated the cost of “outside” professional services that will be required to comply with three of the rules, but didn’t include the cost of 317,962 hours of “internal work” compliance which the regulation requires.
When ObamaCare became law, some Republicans charged that the IRS would have to hire 16,500 more agents to enforce the law—that is, collect the fines from those who refused to buy health insurance. But a ruffled Senate Majority Leader Harry Reid (D-NV) said adamantly it would only take 12,000 more employees. What a relief!
Among the many regulations, fuel economy and emission standards are included for cars and light trucks at an annual cost of $10.8 billion. Add to this $1.2 billion cost for constraints on “short sales” of securities, plus a tsunami of other Dodd-Frank regs still to come out.
Regulations also swell the government regulatory workforce, which was estimated to rise to 281,832 in 2011. The George Washington University’s Regulatory Studies Center keeps tabs on such matters.
One set of regulations of which the administration must be very proud is special accommodations for foreign workers who are hired as goat and sheep herders in the U.S. The regulations assure their living quarters are government approved and comfy. The rules for herders, required by the U.S. Labor Department, apply to sleeping quarters, food storage, lighting, laundry, even cell phones.
When Obama was on his Midwest town hall tour earlier this month, a corn and soybean farmer told the president that nature itself offers plenty of challenges. “Please don’t challenge us with more rules and regulations from Washington. We would prefer to start our day in a tractor cab or combine cab rather than filling out forms and permits to do what we’d like to do.”
Pages: 1 2