A new report released by the American Action Forum shows Obamacare has imposed $27.6 billion in new regulations. Most of the burden of these new regulations will fall on private entities: “at least $20.4 billion in lifetime costs on private entities and $7.2 billion in increased burdens on state budgets,” according to the report.
Besides the added costs on states and private entities, the 85 new Obamacare regulations will require more than 60 million hours of new paperwork.
Twenty states will lose the equivalent of 300 full-time employees’ worth of work to filling out ACA regulatory red tape. Additionally, 27 states have a burden of over $300 million in new regulatory costs.
And costs will only go up from there. The report notes that these new regulations likely “represent a cost floor, and not a ceiling to implement the ACA.”