Abstract
Regulatory burdens on Americans increased by nearly $70 billion during President Obama’s first term in office, during which federal agencies imposed 131 new major regulations. In 2012 alone, the Administration issued a total of $23.5 billion in new regulatory costs from 25 major rulemakings. Only two rules last year decreased burdens. Much more regulation is on the way, with another 131 major rules on the Administration’s agenda, including dozens more implementing Dodd–Frank and Obamacare. Action is needed by Congress, including requiring congressional approval of each new major regulation before it may take effect.
