Cost of Federal Regulations Hit Record High in 2023, Report Says
- Federal regulatory costs tax the average American household over $15,000 annually under the Biden administration, per the Competitive Enterprise Institute report.
- Households incur an average of $15,788 in hidden regulatory costs, more than for food or education, consuming 17% of income.
- Federal regulations' total compliance costs reach at least $2.117 trillion, comparable to individual income-tax costs estimated at $2.328 trillion.
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