Friends of Manufacturing

Fiscal Benefits Of The CRA, Regulatory Reform

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As the American Action Forum (AAF) has detailed in the past, regulations impose costs not only on private entities and states, but also on American taxpayers generally. For example, amending student loan repayment plans cost taxpayers more than $15 billion; the expansion of the overtime rule will cost state governments $115 million. Just as there are fiscal costs for new significant rules, there can be savings from repealing old rules through comprehensive regulatory reform. According to AAF, recent regulatory actions, including Congressional Review Act (CRA) votes, could produce more than $86 billion in savings for taxpayers, on top of the potential for $18.8 billion in annual regulatory savings.

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