“We're looking at the system as a whole to make sure we avoid excessive, inconsistent and redundant regulation.”
—President Obama, Wall Street Journal op-ed, January 18, 2011
A look at federal regulations by the numbers for 2011, courtesy of Senate Republican Conference Vice Chairman, Sen. Barasso’s (R-WY) “Red Tape Review” (dated November 11, 2011):
- 297 Days—since the President’s Executive Order on Regulations
- 123 Days—since the President’s Executive Order on Regulations for Independent Agencies
- 1 Rule—repealed this year (spilled milk not considered an oil spill)
- 539 Rules—Regulations deemed significant under Executive Order 12866
- $85.9 Billion—Cost of regulatory burdens from new rules for the year
- 70,320 Pages—Volume of regulations added to the Federal Register so far this year
- 116.3 Million—Hours of annual paperwork burden
For those mathematically inclined, this means that every day this year the Obama administration has saddled the economy with, on average, 1.71 economically significant rules, almost $273 million in compliance costs, 223 pages in the Federal Register, and 369,000 hours of paperwork requirements.
What are House Republicans doing?
House Republicans are focused on continuing efforts to turn around the Obama economy by passing major elements of the House Republican Plan for America’s Job Creators. Last month, Rep. Richard Hanna (R-NY) introduced the Regulatory Time-Out Act of 2011 (H.R. 3257), which would temporarily halt the flood of new regulations with significant economic impacts. The U.S. Chamber of Commerce has welcomed the bill, along with companion legislation in the Senate.
Rep. Hanna has said, “We all agree that some regulations are absolutely necessary to protect the public good. But, we need to ensure that regulations reflect a proper balance that does not unduly hinder entrepreneurship and job creation—a goal supported by the President. That’s why this bill simply puts a ‘time-out’ on new major discretionary regulations and proposed regulations. This legislation will give businesses the time and certainty they need to catch their breath and focus on what they do best—compete and create jobs.”