Cost of federal regulations hit record high in 2023: Report

Federal regulatory costs average over $15,000 per year per American household under the Biden administration, as reported by the Competitive Enterprise Institute. Households pay an average of $15,788 in hidden regulatory costs, consuming 17% of income, according to the annual report by Clyde Wayne Crews titled “Ten Thousand Commandments.” Total compliance costs of federal regulations reach at least $2.117 trillion, approaching individual income tax costs of $2.328 trillion, as noted in the report, which was released on Tuesday, July 30.