Tag: Competitive Enterprise Institute

$2.1 Trillion ‘Hidden Tax’: Cost of Federal Regulations Hit Record High in 2023, Report Says

Michigan Star Staff
Joe Biden in Oval Office

Federal regulations added record-breaking costs of $2.1 trillion for the average American in 2023, according to a study from the Competitive Enterprise Institute (CEI) released Tuesday.

The eye-popping sum, which incorporates the calculated impact of federal regulations as well as compliance costs, resulted in a “hidden tax” of $15,788 per U.S. household, and was equivalent to nearly 8 percent of GDP, the CEI’s annual “Ten Thousand Commandments” report found. The Biden administration helped drive the surge in regulatory costs, completing 97 rules with costs of $100 million or more.

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Dozens of Energy Orgs Ask Congress to Kill Bill They Say Would ‘Inevitably’ Lead to Carbon Taxes

Michigan Star Staff
Utah Rep. John Curtis

Dozens of energy policy and advocacy groups signed a Monday letter to Congress to express their opposition to a bill they say could be the first step toward carbon taxes or tariffs.

The letter urges House lawmakers to vote against the PROVE IT Act, a bill that has not yet been introduced in the lower chamber but is expected to be soon. The PROVE IT Act — which has already been introduced in the Senate — would have the Department of Energy (DOE) study the carbon intensity of goods, including aluminum, steel, plastic and crude oil, produced in the U.S. and the carbon intensity of products from other countries, according to E&E News.

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