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Biden’s Regulatory Costs More Than Any Other U.S. President’s In Modern History

Regulatory Costs [Photo: Financial Regulation News]
Regulatory Costs [Photo: Financial Regulation News]

U.S. President Biden’s regulatory costs accumulated more in two years than any other American president in modern history. Reports say Biden has more than $300 billion which surpassed former Presidents Obama’s and Trump’s.

U.S. President Biden's Regulatory Costs [Photo: Fox News]
U.S. President Biden’s Regulatory Costs [Photo: Fox News]

U.S. President Joe Biden‘s administration has accumulated more regulatory costs in his first two years in office than any other American president in modern history. Reports say Biden had added more than $300 billion in the regulatory costs, surpassing former President Barrack Obama’s $215 billion and former President Donald Trump’s $23 billion in their first two years.

According to Riggs, Biden administration’s increase in regulatory costs is estimated to have added almost 220 million hours of paperwork. On the other hand, Trump’s regulatory costs have reduced the paperwork by 6 million hours over the same period. As a result, the Foundation for Government Accountability recommends that the regulatory costs must have an approval from the Congress as opposed to the executive branch directly handing down decrees.

READ ALSO: Medicaid Coverage In D.C. Region: Thousands Of Residents Are Disenrolled To The Benefits!

Downside of More Regulatory Costs

According to Masters, Biden’s administration is exhausting the Medicaid program by limiting the states’ ability to validate eligibility which resulted in an increase in recipients this year. In addition, Biden extended the COVID-19 pandemic public health emergency several times during which states received more funding when they pledged not to eliminate ineligible recipients. Consequently, this move costed taxpayers $18 billion every month.

READ ALSO: Medicaid Redetermination Process Leaves 43,000 West Virginians Lose Medicaid Coverage

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