US Regulatory Costs Are A $1.9T 'Hidden Tax,' Report Says
Law360, New York (May 12, 2015, 2:45 PM EDT) -- Federal regulations are costing U.S. taxpayers nearly $1.9 trillion annually in compliance costs, which effectively serve as a "hidden tax" surpassing the revenue the government pulls in from individual income tax collections, according to a report released Tuesday by a public policy think tank.
Last year, Congress added to an already vast regulatory network by enacting 224 laws that were accompanied by 3,554 rules, or an average of 16 rules for each law, according to the Competitive Enterprise Institute. On average, regulatory compliance costs $1.88 trillion annually, and if U.S. households fully bore the responsibility for that amount, they would each...
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