The Obama administration implemented $181.5 in regulations in 2014, according to a new report.
The new regulations could lead to higher energy bills, more expensive consumer products, and fewer jobs, according to the conservative think tank that published the report.
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Fox News reports:
The new rules mostly focus on clean energy and vehicle regulations, said the American Action Forum, which issued the report Monday. The state that was hit the hardest by new regulations was California, which was slapped with $7.9 billion in new rules, followed by Texas ($6.5 billion) and Ohio ($3.4 billion).
"What do these huge sums mean for individuals? Higher energy prices, pricier household goods, a more expensive mortgage, and the promise of yet another year of unrelenting regulatory growth," concludes the report, which was authored by Sam Batkins, the group's director of regulatory policy. "No one can accuse the president of abandoning his promises on regulation in 2014."
The report also found that the Dodd-Frank financial regulatory act and ObamaCare contributed, adding $16.7 billion and $1.9 billion in total costs, respectively. That brings the total cost of ObamaCare, which was passed into law in 2010, to $41.3 billion, according to the report.