Sunday, April 28, 2013

White House Admits 2012 Was Costliest for Regulation

White House Admits 2012 Was Costliest for Regulation

"In a long-awaited report to Con­gress on the costs and ben­e­fits of fed­er­al reg­u­la­tion, the Office of Infor­ma­tion and Reg­u­la­to­ry Affairs (OIRA) con­ced­ed 2012 was the costli­est year ever for red tape. With $19.5 bil­lion in reg­u­la­to­ry costs, 2012 topped the next high­est cost year by 57 per­cent. But that's only the tip of the ice­berg. The report, which was well over­due, also failed to record costs of six "eco­nom­i­cal­ly sig­nif­i­cant" reg­u­la­tions. AAF's tally has last year's reg­u­la­to­ry cost at$215 bil­lion – still a pure addi­tion of admin­is­tra­tion data."

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