President Obama will not comply with a federal law requiring him to release his regulatory agenda because he doesn’t want Americans voters to know the “terrible cost” it would have on the economy should he win re-election -- include the loss of an estimated 887,000 jobs annually, says Sen. James Inhofe, ranking Republican on the Senate Committee on Environment and Public Works.
Inhofe cites the Regulatory Flexibility Act that requires federal agencies to assess the impact of their regulations on small businesses. He says Obama failed to comply with the law twice over the past year – specifically the April and October deadlines.
“President Obama is refusing to comply with the law that requires him to publish forthcoming regulations because he doesn’t want the American public to know the terrible cost of the regulatory barrage he plans to unleash in a second term,” Inhofe said. “So instead of being honest with the American people about what’s in store if he wins, he’s been trying to hide the fact that he intends to move forward with a slew of rules that will destroy hundreds of thousands of jobs and dramatically raise the cost of energy on American families.”
The Oklahoma senator sent a letter to the president Sunday asking him to publish the administration’s agenda before Oct. 31.
“Businesses and communities need to understand the future regulatory landscape,” he wrote.
The projected loss of 887,000 jobs annually is from a National Economic Research Associates report last month. The international economic firm in its 129-page report states the coal industry would be hit hard and the job losses would continue through 2034.
Inhofe, also last month, released a report stating the Environmental Protection Agency has delayed action or “punted” on numerous regulations while Obama tries to “earn votes” for a second term.
The 14-page report states when the agency approves the roughly one dozen regulations next year in 2013, they will “spell doom” for jobs and economic growth.
The report cites pending regulations on a wide range of environmental-economic issues including those on power plant emissions and hydraulic fracturing and concludes pending, overall regulations on greenhouse gases if enacted would cost $300 billion to $400 billion annual and significantly increase the price of gasoline and home heating.