Details of the report on how much Biden’s regulations cost Americans

According to the Job Creators Network, the regulations imposed by President Joe Biden’s administration cost more than $1 trillion, putting an especially heavy burden on American households and manufacturers. Pictured: Biden speaks at the White House on November 14 about his actions to combat climate change. (Photo: Saul Loeb/AFP/Getty Images)

The Biden administration has launched a wave of new regulations that have already cost more than $1 trillion, or thousands of dollars per family, according to a new report from the Job Creators Network.

According to the business organization, a total of 923 new regulations passed under Joe Biden’s presidency have resulted in approximately $1.6 trillion in costs, with $1.2 trillion of that introduced in just the last few months.

In just the first two years of Biden’s administration, new regulations are estimated to have resulted in an average of almost $10,000 in additional future and present costs for American households, which could rise to $60,000 if this trend continues throughout his two-year presidency.

“Federal officials are pushing an unprecedented regulatory agenda that is crushing America’s small businesses and families at a time of already high inflation,” Alfredo Ortiz, CEO of Job Creators Network, told the Daily Caller News Foundation. “Not only are they overstepping their authority, but economic stress is creating long-term problems for the people who form the backbone of our economy.”

The most expensive regulation, the report found, is the recently finalized emissions standards for light-duty and medium-duty vehicles, totaling about $870 billion. Emissions standards have introduced increasingly stringent requirements over time that require vehicles to be hybrid or electric and cost more than traditional cars as part of the president’s climate agenda.

The Biden administration has also introduced several appliance regulations as the president seeks to reduce household greenhouse gas emissions. The report shows that new standards for washing machines will cost $200 each, efficiency standards for gas furnaces will cost an average of $494, and a ban on the use of selected refrigerants in air conditioners will cost $1,000.

Despite the president’s external support for the manufacturing sector, the industry has suffered in recent years from a surge in regulation. According to the Job Creators Network, regulations will cost U.S. manufacturers $350 billion in 2022, up 26% from a decade earlier, or the equivalent of about $29,000 per compliance worker.

Agencies in the Biden administration have rushed to finalize the new rules ahead of the 2024 presidential election, trying to make them permanent in case Biden does not win a second term. The new regulations are subject to a “look-back period” of 60 days before the end of the congressional session, after which they can be more easily repealed due to the Congressional Review Act.

According to JCN, since the Obama administration in 2009, federal agencies have finalized more than 5,300 regulations, totaling $2.6 trillion in current and future costs. Looking at a similar time frame, the Trump administration reduced the cost of regulation by $159.4 billion compared to the Obama administration, which added $309 billion.

The White House did not respond to a request for comment before publication.

Originally published by the Daily Caller News Foundation