U.S. Has Seen More Than $1 Trillion in Regs Since 2005

The financial burden of regulation has reached $1 trillion since 2005, the American Action Forum reported this month.

 The biggest drag on the economy: The Obama administration Environmental Protection Agency.

 Here’s AAF’s staggering tally of its economic toll:

The EPA has issued the five most expensive rules by annual costs and six of the top eight in terms of total costs. Here are five of the costliest rules, totaling $191 billion in total costs and $42.1 billion in annual burdens: CAFE Standards for 2017-2016 Vehicles; Mercury Air Toxics Standard; Clean Power Plan; Fine Particle Implementation Rule; and Standards for Particulate Matter.

Overall, the Obama administration has passed more than 500 major regulations. AAF has a cool tool for exploring these daunting requirements and their economic costs, breaking it down by rules, paperwork hours and other costs.