The Biden-Harris administration has put in nearly $1.78 trillion worth of rules and regulations as of October since January 2021, with much of that being finalized in the last year, according to the American Action Forum (AAF).
Just since January, the federal government has produced $1.46 trillion in total net costs from various rules and regulations, with $1.33 trillion in new costs coming from finalized rules, according to the AAF. The total number of finalized regulations put in place this year is 327 as of Nov. 1.
President Joe Bidenās added regulatory costs are dramatically higher than those of former Presidents Donald Trump and Barack Obama, according to the AAF. In the same amount of time it took Biden to rack up the nearly $1.78 trillion in regulations, the Obama administration reached $490.5 billion in 2012, and the Trump administration hit $3 billion in 2020, according to the AAF.
The Environmental Protection Agencyās (EPA) recentĀ ruleĀ that aims to replace lead pipes in the U.S. within 10 years is expected to incur annual costs of $1.47 billion to $1.95 billion, according to the AAF. The EPAās new strict tailpipe emissionsĀ regulationsĀ have also previously contributed toĀ increasingĀ the total costs of the administrationās regulatory agenda.
The Biden-Harris administration has led a push toĀ increaseĀ regulatory action over the past year asĀ election night draws closer. Biden has introduced various measures aimed at regulatingĀ the use of gas appliances, including issuingĀ revised standards for furnaces in September 2023 that couldĀ prohibit 40-60% of residential gas furnaces andĀ pushingĀ for widespread usage of electric stoves.
The economy has been a top concern for voters in the 2024 election cycle, with 52% of voters saying they consider it to be the most important issue, according to an Oct. 9 Gallup poll.
The White House did not immediately respond to a request for comment from the Daily Caller News Foundation.
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