Gallup: More Americans Think We’re Regulated Too Much Than Too Little
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Michael Bastasch at the The Daily Caller reports that more Americans think there are too many regulations (47%) rather than too few (26%). As this Gallup chart shows, the unpopularity of red tape has shot upward in the last few years.
Stanford economist John Taylor argues that part of the reason for the sluggish recovery is bad regulatory policy stifling businesses. There’s a good case that he’s right.
In testimony submitted to the House Judiciary Committee, Bill Kovacs, senior vice president for Environmental, Technology, and Regulatory Affairs for the U.S. Chamber, offered an example: The Clean Air Act Maximum Achievable Control Technology Rule for cement plants (Cement MACT). It was expected to cost these plants more than $3 billion to meet new administration rules on air emission standards, and the Portland Cement Association estimated that at least 18 plants would close. Not only would this cost us in lost jobs, but Kovacs noted that this regulation, together with other recent EPA rules, “could add as much as $20 to $36 to the cost of every ton of cement that small concrete Ready-Mix companies must purchase.” This is only one of numerous extremely costly rules weighing down our economy.