Obama’s Regulatory Agenda Includes 191 New Rule Makings Each Costing $100 Million
Below is an open letter sent by House Republican Leader John Boehner to President Barack Obama concerning the latter’s regulatory agenda. Namely, that said agenda contains 191 new federal rule makings each with an estimated economic cost of $100 million.
Meaning that each of these new rules will mean roughly $100 million more spent by businesses not on creating jobs or prosperity but rather on complying with new government rules.
Sound like madness? It is. It’s something I’ve referred to as the “uncertainty tax.” With this sort of economic impact in terms of government regulation hanging over the heads of the business owners, investors and entrepreneurs who create jobs and prosperity in our economy, who can blame them for not hiring and expanding and investing?