Obama is working overtime to create new regulations before leaving the White House

President Barack Obama’s tenure in the White House may be winding down, but his burdensome regulatory legacy will likely plague American small-business owners and the middle class for decades to come.

A new report on the president’s regulatory agenda reveals that Obama is working on a plan to sidestep Congress and saddle the U.S. economy $118 billion worth of new regulatory burdens.

And according to conservative watchdog American Action Forum’s analysis of the plan, Obama isn’t wasting any time. Over the next three months, new regulations on Arctic drilling, nutrition labels and renewable fuel standards, among other things, will add $33 billion in new regulatory costs to business and taxpayer bottom lines.

American Action Forum Director of Regulatory Policy Sam Batkins says Obama’s rush to implement new regulations in the next year is partly in response to White House fears that the Congressional Review Act could make regulating by fiat more difficult by 2017. Under that 1996 law, so-called midnight regulations passed by Obama during his final weeks in office would be the easiest for lawmakers to rescind.

“[S]ome rules were actually moved out of this ‘midnight’ period earlier in the year. Despite the narrative that regulations are always being delayed, several rules are being expedited, at least compared to previous schedules,” Batkins said.

Remarkably, the cost estimate of $118 billion for Obama’s regulatory rush is likely on the low side.

“[The] estimate contains just 38 monetized figures and an incredible amount of uncertainty. The public does not know the cost of proposed rulemakings not yet published, nor the countless other rules that will be final next year, but were excluded from this agenda,” Batkins said.

Unfortunately for American voters, regulations aren’t the only way the Obama administration will continue to hurt economic prospects long after the next presidential election. Learn about one of the biggest economic threats facing Americans following the next election here.

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