Biden poised to crash through regulations records – Washington Examiner
The article discusses President Joe Biden’s administration, which is on track to exceed record levels of federal regulatory paperwork, having already published 86,712 pages in the Federal Register this year. With two months left in the calendar year, it is expected that the total will surpass 104,000 pages, thereby breaking the previous record set by former President Barack Obama. Analysts, such as Clyde Wayne Crews Jr. from the Competitive Enterprise Institute, express concern over the increasing volume of regulations, suggesting that this could lead to a significant cumulative burden for various industries, hinting at a million pages of regulatory material every decade. Historically, the expansive growth of regulations has drawn attention from political figures, including former President Donald Trump, who campaigned on promises to reduce this red tape, citing the financial strain it imposes on both Main Street and Wall Street.
Biden poised to crash through regulations records
President Joe Biden and his huge team of federal regulators are on a pathway to breaking the record for economy-choking red tape.
As of Wednesday, his team that has been focused on eliminating American standards from gas stoves to hamburgers, has published 86,712 pages in the Federal Register, the third-highest annual count of all time.
And with two months to go this year, his administration is poised to pass 104,000 pages, breaking the record of his mentor, former President Barack Obama at 95,894.
Congratulate the Biden administration on the 2024 Federal Register hitting 86,712 pages today, the third-highest annual count of all time, with two months still to go. @ceidotorg pic.twitter.com/0e0reFFA7b
— Clyde Wayne Crews Jr (@wayne_crews) October 30, 2024
“We could potentially see ourselves crossing the threshold of a 100,000 page Federal register. Or a million pages of federal regulatory material every decade. That’s scary,” said Clyde Wayne Crews Jr., the anti-regulation czar at the Competitive Enterprise Institute.
The mountain of paperwork and red tape the government produced rarely gets attention, but former President Donald Trump in his 2016 campaign and current campaign has promised to cut it, in large part because regulations cost Main Street and Wall Street billions of dollars a year.
One major challenge facing the banking industry that American Bankers Association (@ABABankers) President and CEO Rob Nichols (@BankersPrez) wants to solve:
🎙️ “The tsunami of regulations impacting this sector.”
He discusses the cumulative impact these regulations have -… pic.twitter.com/Tlbk4E27ww
— Nasdaq (@Nasdaq) October 28, 2024
Regulations under the Biden-Harris administration have become so burdensome and costly that JPMorgan Chase Chairman and CEO Jamie Dimon this week called on corporate America to fight back. Many took his signal as a call to vote against Vice President Kamala Harris, who has pushed Biden’s regulatory agenda.
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“It’s time to fight back,” Dimon said at a conference hosted by American Bankers Association President and CEO Rob Nichols. He said that too many are afraid to “fight with their regulators, because they would just come and punish you more.”
Nichols said, “As you know, our advocacy efforts have been laser-focused on challenging many of these new rules using facts and data to show that these changes will cause significant harm to American consumers and the broader economy.”
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