A report from the Job Creators Network reveals that new regulations under the Biden administration have cost the U.S. economy over $1 trillion, significantly impacting small businesses and families.
Biden’s Rules Cost Over $1 Trillion, Report Says
According to the published article in Just The News, new rules from the Biden administration have cost the U.S. economy over $1 trillion, which means thousands of dollars for each family. The report, shared with the Daily Caller, shows there have been 923 new federal rules since Biden took office, with total costs up to $1.6 trillion. This means an average of $10,000 in costs for American households in the first two years of Biden’s presidency.
Alfredo Ortiz, CEO of the Job Creators Network, says these new rules are hurting small businesses and families, especially with already high inflation. He points out that federal workers are going beyond their powers, causing economic problems that will last a long time. The report highlights how much money these new rules are costing American families and businesses.
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$1.6 Trillion in Regulatory Costs: Biden Administration’s Overreach Wreaks Havoc on Small Businesses and Families (PHOTO: The Daily Caller)
New Appliance Rules Add More Costs
Furthermore, the Biden administration has also made new rules for household appliances to reduce emissions, which will cost families even more money. For example, new rules for washing machines will add $200 to the price, and new gas furnace standards will add about $494. These rules are expected to be finalized before the 2024 election, adding to the financial burden on American households.
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