Federal rule-making has ground to a halt with the government shutdown — and that’s good for the economy, Watchdog.org reported Friday.
Last year, 224 federal regulations were classified as “economically significant,” meaning they had $100 million or more in annual economic impact on businesses, according to the Office of Management and Budget.
The Obama administration formulated a total of 4,062 rules and regulations last year.
“All in all, 3,708 final rules hit the books in 2012 – more than 10 a day,” reports the Washington, D.C.-based Competitive Enterprise Institute.
House Majority Leader Eric Cantor, R-Va., cites dozens of instances where administrative agencies — elected by no one — promulgated rules:
- Rewriting federal education law.
- Creating new “super” regulatory agencies.
- Restricting the nation’s energy resources.
- Telling religious institutions which employees are “religious.”