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The White House Council of Economic Advisers’ June 2025 report, The Economic Benefits of Current Deregulatory Policies, rightly underscores how “[e]xcess regulation harms economic activity by increasing compliance costs and misallocating resources away from more profitable activities, thus discouraging innovation, investment, and economic growth.” Council of Economic Advisers – The Economic Benefits of Current Deregulatory Policies – June 2025 White House The administration contends that combined savings from pre-empting the Biden regulatory agenda “could be as high as $907 billion dollars or over $10,600 per family of four in present value terms if all the preempted regulatory proposals had otherwise been finalized.” That sum still falls short of the agency-acknowledged costs of the full Biden program to which this statement refers, but the number is striking. Illustrating the substantial sweep of regulation, the CEA notes that “the upper bound associated with the elimination of just the Biden Administration’s regulations results in cost savings equivalent to a 0.29% to 0.78% boost in annual economic growth over 20 years.” The first figure is based on taking agencies at their own word; the high end is based on the work of University of Chicago economist Casey Mulligan. My own Ten Thousand Commandments report, clocking annual federal regulatory costs at $2.155 trillion ($16,016 per household), backs the optimistic case for potential savings touted by CEA. The regulatory state is a wallet-draining beast, and the incremental gains from even modest rollbacks can be huge. While the CEA focuses on reversing Biden’s agenda, the real task is wrestling with the century-old administrative state itself. The CEA spotlights Trump’s one-in, ten-out regulatory budget—scrapping ten rules for each significant new one added. That program has so far targeted headline-grabbing Biden overreach in areas such as net-zero policies–including rollbacks of “appliance conservation standards” and vehicle fuel economy mandates. While…

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Filed under: News - @ June 25, 2025 9:26 pm