During the six years that President Obama has held office, the number and cost of regulations has continued to climb, with the issuance of 184 major rules estimated to cost $80 billion annually, according to the Heritage Foundation’s Red Tape Rising report.
A major rule is “generally defined as having an expected economic impact of at least $100 million per year.”
“The number and cost of government regulations continued to climb in 2014, intensifying Washington’s control over the economy and Americans’ lives,” the report stated. “The addition of 27 new major rules last year pushed the tally for the Obama Administration’s first six years to 184, with scores of other rules in the pipeline.
“The cost of just these 184 rules is estimated by regulators to be nearly $80 billion annually, although the actual cost of this massive expansion of the administrative state is obscured by the large number of rules for which costs have not been fully quantified,” it added.