Barbella
Senator
Administration efforts to cut red tape have actually added $23 billion in costs to the economy this year, according to a new report released by the American Action Forum (AAF).
Cabinet agencies are required to issue a “retrospective review” every six months on how they are improving burdensome regulations, in order to comply with Executive Order 13563, which was issued by President Barack Obama in January 2011. However, AAF has found that these efforts rarely reduce the costs of regulation.
“Despite attempts to reduce red tape and ‘promote economic growth,’ recent regulatory reform plans from the administration actually added more than $23 billion in costs and 8.9 million paperwork burden hours,” AAF said. “Only three agencies managed to reduce costs.”
http://freebeacon.com/issues/report-administrations-efforts-to-cut-red-tape-cost-economy-23-billion/