Obama’s “Midnight Regulations” Will Cost Americans $6 Billion?
by Amna El Tawil
President Barack Obama and his administration are about to issue multiple regulations totaling about $6 billion during the “midnight period” between the Election Day and the Inauguration Day. Obama administration aims to impose five regulations from the EPA and the Department of Interior as tweeted by Wall Street Journal’s Amy Harder in November 2016.
The Obama administration is readying at least 5 big environmental rules to issue in the two months between the election & Inauguration Day. pic.twitter.com/6EZVy3OLWr
— Amy Harder (@AmyAHarder) November 7, 2016
The American Action Forum analyzed the expenses of these regulations and found that “these five measures alone could impose $5.1 billion in costs and more than 350,000 paperwork burden hours. In addition, three other rules in proposed form could add $898 million in burdens and 146,000 paperwork hours, for a cumulative total of nearly $6 billion in potential midnight costs and nearly 500,000 burden hours from the two agencies. Consider, EPA and Interior have already imposed $349 billion in previous burdens since 2009.”
In his statement about one piece of regulation, Interior Secretary Sally Jewell said: “We worked closely with many stakeholders to craft a plan that protects water quality, supports economic opportunities, safeguards our environment and makes coalfield communities more resilient for a diversified economic future.”
It is important to bear in mind that Barack Obama has already broken all past records on creating federal regulations and red tape, and his new adds will increase the overall price tag to over $1 trillion.
The new set of regulations comes even after GOP asked Obama administration not to go through with new decisions, which is the same thing his team did when he became the president.