Last fall, President Obama decided to cancel a hugely expensive new
EPA rule designed to cut smog levels across the country. Obama said he
did so out of concern about the rule's impact on jobs.
It was just one of many costly regulations the Obama administration has put on hold or delayed in the run-up to the election, as the president tried to dispel the impression that he's anti-business.
"I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty," Obama said when he put the brakes on the smog standard, "particularly as our economy continues to recover."
But if Obama wins re-election, all these postponed rules, along with a host of other costly regulations, likely will hit the economic shores.
$515 Billion Drag Looms
Using official government sources, the National Federation of Independent Business calculates there are more than 4,000 federal rules in the pipeline, and that just the 13 biggest ones would, if imposed in an Obama second term, cost businesses a total of more than $515 billion over four years.
That tally doesn't include more than 100 still-to-be-written regulations needed to enforce the Dodd-Frank financial reform law, or the mountain of regulations required by ObamaCare. The health law has already resulted in thousands of pages of rules, including 18 pages simply to define what a "full-time employee" is.
Read more: http://news.investors.com/091712-625936-regulatory-tsunami-set-to-hit-economy-in-2nd-obama-term.aspx?src=HPLNews,HPLNews
It was just one of many costly regulations the Obama administration has put on hold or delayed in the run-up to the election, as the president tried to dispel the impression that he's anti-business.
"I have continued to underscore the importance of reducing regulatory burdens and regulatory uncertainty," Obama said when he put the brakes on the smog standard, "particularly as our economy continues to recover."
But if Obama wins re-election, all these postponed rules, along with a host of other costly regulations, likely will hit the economic shores.
$515 Billion Drag Looms
Using official government sources, the National Federation of Independent Business calculates there are more than 4,000 federal rules in the pipeline, and that just the 13 biggest ones would, if imposed in an Obama second term, cost businesses a total of more than $515 billion over four years.
That tally doesn't include more than 100 still-to-be-written regulations needed to enforce the Dodd-Frank financial reform law, or the mountain of regulations required by ObamaCare. The health law has already resulted in thousands of pages of rules, including 18 pages simply to define what a "full-time employee" is.
Read more: http://news.investors.com/091712-625936-regulatory-tsunami-set-to-hit-economy-in-2nd-obama-term.aspx?src=HPLNews,HPLNews
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