Federal regulators last week finalized regulations that will cost more than $3 billion economy-wide and require more than 70,000 additional hours to be spent on paperwork.
That estimate comes from the conservative American Action Forum, which says the new regulations proposed in 2016 will cost the average person $490.
This week, the Department of Labor finished its sick-leave rule for contractors this week. That rule will cost $241 million total and impose 590,000 hours worth of paperwork.
Even bigger than that rule is the new “Child Care and Development Fund” regulation. That will cost $2.9 billion over 10 years.
Regulations finalized over the course of 2016 will cost $110 billion over 10 years. Other regulations that are proposed but not yet finalized would cost $49 billion.
Jason Russell is a commentary writer for the Washington Examiner.
