| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Barack Obama’s Regulatory Maze Could Reduce US Manufacturing By $500 Billion in 2012
New US manufacturing regulations could reduce US output by as much as $500 billion in 2012, a Manufacturers Alliance for Productivity and Innovation analysis details, casting doubt on President Barack Obama’s promises of getting rid of the red tape in federal government. Instead, the Obama administration has instituted, on average, 72 regulations on manufactures each year – 27 more than the 45 per year under President George W. Bush, and 36 more than Clinton’s average.
The study designates major regulations as those with compliance costs estimated at over $100 million. These regulations could reduce economic output by $200 billion to $500 billion in 2010 dollars, which used data from the White House Office of Management and Budget over three decades. Due to this, exports from the US could be 6.5 percent to 17 percent lower.
Under Clinton, the US government averaged 36 major regulations from 1993-2000.
The study is released just as a federal court threw out a US Environmental Protection Agency rule designed to cut pollution from coal-fired power plants. The U.S. Court of Appeals in Washington in a 2-1 decision denied the EPA’s cross-state air pollution rule, ruling the agency illegally imposed federal authority over state air pollution programs.
The court agreed with the more than three dozen challengers to the measure, which forced cap emissions in more than 24 states.
The court’s decision has helped coal stocks:
2012-08-21 13:34:06
Source:
