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Based on data from the Government Accountability Office, an unprecedented 43 major new regulations were imposed by Washington.And based on reports from government regulators themselves, the total cost of these rules topped .5 billion, far more than any other year for which records are available.Due to its determination last year that greenhouse gases are pollutants, the agency is moving to set emissions limits for such gases.

The study determined that regulators overestimated benefits 40 percent of the time and underestimated costs 34 percent of the time.[14] Even a finding that costs exceed benefits does not necessarily stop a new rule from going into effect.

For instance, in evaluating new regulations for train-control systems, the Department of Transportation identified costs of $477.4 million, and benefits of a mere $22 million.

The Hidden Tax The cost of regulation has often been called a hidden tax. According to a report recently released by the Small Business Administration, total regulatory costs amount to about $1.75 trillion annually, [1] nearly twice as much as all individual income taxes collected last year.[2] Not all regulations are unwarranted, of course.

Although the total does not appear anywhere in the federal budget, the multitude of rules, restrictions, and mandates imposes a heavy burden on Americans and the U. Most Americans would agree on the need for protections against terrorism, although the extent of such rules is certainly subject to debate.

Moreover, costs were not quantified for 12 of the economically significant rules adopted in FY 2010.

Many of the rules lacking quantified costs involve financial regulation.Record Increases This regulatory burden has been increasing for some time. Bush, which many mistakenly consider as a period of deregulation, the regulatory burden increased by more than billion, according to agency regulatory impact reports.In FY 2009, which spanned the Bush and Obama Administrations, rulemaking proceeded at a nearly unprecedented rate, with the addition of 23 major rules imposing billion in new costs.[3] But the available evidence indicates that regulatory costs increased last year at a far greater pace.Date Sources: Live BSE and NSE Quotes Service: Ticker Plant | Corporate Data, F&O Data & Historical price volume data: Dion Global Solutions Ltd.BSE Quotes and Sensex are real-time and licensed from the Bombay Stock Exchange.In hopes of quieting political outrage over so sweeping a dictate, the EPA’s “Tailoring Rule”[10] set a minimum threshold level for regulation.

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