Phoenix Center Cites Regulator Costs, Urges Budget Cuts to Spur Economy, Jobs
Cutting regulatory budgets responsibly would help boost economic and job growth, said a Phoenix Center report Wednesday. It said the annual "cost per regulator" to the U.S. economy is 138 jobs and $11 million in output. "Reducing the size of…
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
the regulatory state is a promising means for cutting spending and growing the economy," said an accompanying release. A 10 percent reduction, or about $5.6 billion, in the regulatory budget -- "which implies a return to pre-Obama Administration levels" -- would produce an additional $1.2 trillion in GDP over five years, or $244 billion annually, and 3 million new private-sector jobs per year on average, it said.