The Cost Of Regulations In 2013 Exceeded 11.1% Of GDP

Bankrupting America
In April, the Competitive Enterprise Institute (CEI) released a report, titled “Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State,” which gives a snapshot of the cost of U.S. regulations for the previous year. The annual snapshot showed that overall 2013 regulation costs reached $1.863 trillion, more than the GDP’s of Canada or Australia. In this week’s Breaking It Down we take a closer look at that report.

• The $1.863 Trillion Cost Of Regulations In 2013 Exceeded 11.1 Percent Of GDP

The Average US Household Yearly Cost To Comply With Federal Regulations:

$14,974

• The Amount Firms Paid In Regulatory Compliance Fees Per Employee:
• $10,585 (Small Firms), $7,755 (Large Firms+20 Employees)

• Total Rules Issued In 2013:
• 3,659 Final Rules And 2,594 Proposed Rules

• The Top Six Federal Rulemaking Agencies: 
• Treasury Department, Department Of Commerce, Interior Department, 
• Health And Human Services, Department Of Transportation And 
• The Environmental Protection Agency.