November 18, 2013
AAF Research Finds Two New Fed Regulations Would Require 45.9 Billion Compliance Hours
The American Action Forum (@AAF) released new research focusing on two new proposed Federal regulations that represent the largest expansion of red tape to date. These two new proposed regulations would together add 45.9 billion hours of new paperwork to the 10.3 billion paperwork hours currently required by the Federal government.
One regulation, issued by the National Credit Union Administration, would impose 43.4 billion paperwork hours and an “inestimable” cost. The second, issued by the Internal Revenue Service, would add 2.4 billion hours and $48.5 billion in “out of pocket” costs.
“These figures are truly staggering. Our species is only roughly 200,000 years old and now two obscure notices are threatening to add more than 5.2 million years of paperwork. The topline figures are sobering but the lack of oversight and public attention is even more surprising,” concludes Sam Batkins, AAF’s Director of Regulatory Policy.
Click here to read the analysis.