Good morning, friends, and welcome to Tuesday! Unfurl your stars and stripes on this Flag Day!
We ran the numbers since President Obama took office in 2009: 2,781 regulations have been finalized, resulting in a cost of nearly $800 billion and over 500 million paperwork hours.
Through nearly six months this year, the Obama administration has finalized 157 regulations, including the burdensome fiduciary rule which would make it harder for working- and middle-class Americans to prepare and save for retirement. The finalized regulations thus far for 2016 have a total finalized cost of $86.5 billion and will consume nearly 46 million paperwork hours.
There is no doubt that some regulations are necessary and critical, especially those that protect our health and safety.
Too often, however, Washington-based bureaucrats impose onerous, unnecessary regulations that stifle economic growth, increase costs for America’s families, and burden business owners with complex compliance when they could be growing their businesses and creating jobs.
This afternoon, we’ll tune in as House Republicans unveil their plan for a better way to grow our economy, and we look forward to learning more about their proposals for regulatory relief.