The Obama administration is rushing through regulations costing $118 billion in a legacy move meant to sidestep Congress and make the rules permanent, according to a new report on the president's regulatory agenda.
In just the next three months, the list of regulations analyzed by the conservative watchdog American Action Forum will add $33 billion in regulatory costs to businesses and taxpayers, including plans on Arctic drilling, nutrition labels and updating the renewable fuels standard.
But the full plan just revealed by the administration in what's known as the "unified agenda" includes dozens of regulations President Obama wants to shove through before leaving office, for a total economic hit of at least $118 billion, according to the report from American Action Forum Director of Regulatory Policy Sam Batkins.
"The $33 billion is just what could happen in the next three months. The $118 billion is the tally from everything," he said. The report was released in advance to Secrets.
After imposing years of costly regulations, the price tag isn't a total surprise. But the administration's plan rush through some of the most impactful regulations ever is.