Americans Paying $14K Per Year In Hidden Regulation Costs

President Joe Biden speaks during the Truman Civil Rights Symposium at the National Archives Building, Thursday, July 27, 2023, in Washington. Biden on Friday plans to sign an executive order while visiting Maine to encourage companies to manufacture new inventions in the U.S. (AP Photo/Evan Vucci)
  • Americans anticipate paying federal taxes, but the Competitive Enterprise Institute asserts that the federal government also imposes less visible financial burdens.
  • According to Wayne Crews, the Fred L. Smith fellow in regulatory studies at the institute, American households bear a minimum of $14,000 annually in concealed regulatory costs.
  • In an exclusive video for The Daily Signal, Crews argues that rather than seeking ways to alleviate these costs for Americans, President Joe Biden’s comprehensive policymaking approach places priority on political objectives such as addressing climate change and equity in the regulatory process.