Press Release

2023: The Year in Review

In a new retrospective, Director of Regulatory Policy Dan Goldbeck reviews the costs, paperwork burdens, and trends of the Biden Administration’s regulatory policy in 2023.

Key points:

  • Federal agencies collectively finalized $129.2 billion in net regulatory costs in 2023, displacing 2022 as the fifth-most expensive year since 2005.
  • Federal agencies also collectively finalized 60.5 million new annual hours of paperwork burden.
  • Both trends, however, pale in comparison to the roughly $616 billion in costs and 191 million hours from proposed rules that portend a potentially record-breaking 2024 for the Biden Administration.

Read the analysis