(TheLastPatriotNews.com) The year 2023 marked another crushing one for American businesses due to ever-increasing regulatory burdens imposed under the Biden administration, as the American Action Forum (AAF) reported to the public.
The administration’s regulatory output totaled an astounding $745 billion, surpassing both the Trump and Obama administrations.
The Biden administration’s approach, characterized by its left-leaning policy initiatives, included stringent emissions standards aimed at boosting electric vehicle adoption and implementing student loan forgiveness plans.
From January 1 to December 29, 2023, the administration not only issued an impressive 743 rules but also exceeded the regulatory costs and paperwork burdens of its predecessors, according to AAF, a vigilant watchdog of government regulations.
Dan Goldbeck, an AAF analyst, provided a detailed breakdown to the DCNF: “Since January 1, the federal government has published $745.2 billion in total net costs (with $129.2 billion in new costs from finalized rules) and 251.3 million hours of net annual paperwork burden increases (with 60.5 million hours in coming from final rules).”
These figures starkly contrast the Obama Administration’s $173.7 billion and 91.4 million hours, highlighting the Biden Administration’s extensive regulatory agenda as it moves into 2024.
To put this in perspective, over the course of Biden’s term thus far, the administration has published 743 rules with a face-value cost of $447 billion and a paperwork burden of 277 million hours.
This compares notably to the Trump administration’s 847 rules, which had a cost of just $25 billion and a paperwork burden of 65 million hours, and the Obama administration’s 1,095 rules costing $273 billion.
The Republican-controlled House of Representatives Committee on Small Business, known as X on Twitter, expressed concern over these developments.
“Week after week, the Biden administration continues to pile regulations on Main Street America. If we want small businesses to thrive, we need less — not more wasteful regulations,” the committee emphasized.
In the final working week of 2023 alone, from December 26 to 29, the administration added $45.6 billion in total costs and 43.4 million annual paperwork burden hours.
One notable regulation, finalized by the Department of Energy, established new energy efficiency standards for residential freezers and fridges, aligning with the administration’s climate change commitments.
The department’s press release equated the potential reduction in greenhouse gas emissions to removing millions of gas-powered cars and coal-fired power plants from operation over 30 years.
However, this regulatory push has not been without its critics. Republican Sen. Katie Britt of Alabama responded sharply to these developments, especially regarding the appliance regulations.
On Twitter, she criticized the Biden administration’s approach, saying, “President Biden is eager to crack down on hardworking American families’ household appliances,” and described the administration’s agenda as “backwards at every turn.”
This perspective reflects a growing concern among Republicans and small business advocates about the impact of the Biden administration’s regulatory policies on American businesses and families.
