According to data accumulated by the American Action Forum (AAF), “President Joe Biden’s regulatory policies have proven more costly than those of his predecessors, Barack Obama and Donald Trump, during the first 30 months of their respective terms.”
In this period, the Biden administration has implemented 620 final rules, costing an estimated $395.5 billion and demanding 232.4 million paperwork hours. In contrast, the Obama administration issued 926 final regulatory rules, costing approximately $222.4 billion and 145.6 million paperwork hours, while regulatory policies enacted under the Trump administration amounted to just $36.3 billion and 54.5 million paperwork hours.
The Heritage Foundatin’s Diana Furchtgott-Roth suggests Biden’s regulatory approach is due to an inability to pass such extensive changes through Congress. She claimed that Biden is resorting to “administrative, executive branch overreach” to implement his agenda.
The Biden administration’s regulatory agenda has been labelled as the most expensive in American history, with rules from last week alone adding up to $19.3 billion in total costs. These include regulations on gas-powered appliances, internal combustion engine vehicles, and coal-fired power plants as part of the administration’s efforts to combat “climate change.”
The National Highway Traffic Safety Administration recently proposed stringent fuel economy standards on American auto manufacturers, potentially raising vehicle costs for consumers. Additionally, the Environmental Protection Agency attempted to impose new emissions standards on heavy-duty trucks, but the proposal was overturned by Senate Republicans. The administration’s “whole-of-government approach” to staving off the purported effects of climate change continue to drive regulatory changes, raising costs significantly.