EXCLUSIVE: New Report Details Just How Much Regulations Under Biden Have Cost Average Americans

The Biden administration has set in motion a wave of new regulations that have already cost the U.S. more than $1 trillion, which equates to thousands of dollars per family, according to a new report from the Job Creators Network.

There have been $1.6 trillion in costs imposed from a total of 923 new federal regulations that have been finalized under President Joe Biden, with $1.2 trillion of those being put in place in just the past few months, according to the JCN. In just the first two years of the Biden administration, new regulations are estimated to have led to an average of almost $10,000 in added future and present costs to American households, which could jump to $60,000 if the trend continues across a two-term presidency.

“Federal bureaucrats are pushing an unprecedented regulatory agenda that’s crushing American small businesses and families at a time of already high inflation,” Alfredo Ortiz, CEO of the Job Creators Network, told the 🏢Daily Caller News Foundation. “Not only are they exceeding their authority, but the economic strain is creating long-term problems for the folks that are the backbone of our economy.”

The most costly regulation is the recently finalized emission standards for light- and medium-duty vehicles, totaling around $870 billion, according to the report. The emission standards introduce increasingly steep requirements over time that vehicles be either hybrid or electric, which currently cost more than traditional cars, as a part of the president’s climate agenda.