President Barack Obama’s sweeping regulations cost taxpayers in Arizona at least $347 billion, according to Sen. John McCain’s annual America’s Most Wasted report.
Obama’s “regulatory onslaught” also puts small businesses at risk and entire industries, McCain says in his report.
While previous iterations of America’s Most Wasted “exposed examples of egregious federal spending, this report highlights the Obama Administration’s regulatory assault,” McCain says in the report.
“Over the last eight years under the Obama Administration, and especially since the president’s 2014 State of the Union address when he committed to using his ‘pen and phone’ to circumvent Congress, the American people have been hit with a barrage of federal regulations that are saddling Arizona’s economy, hurting small businesses, strangling middle class families, and robbing taxpayers – to the tune of $348.7 billion,” McCain said in a statement.
McCain’s report only looks at 25 regulations affecting or directed at Arizona during Obama’s presidency, and the effect of those rules on industries across the state.
“With job and economic development continuing to lag across our nation, we must not cease in our efforts to undo the red-tape that is unfairly burdening hardworking Arizona families,” McCain said. (RELATED: Obama Finalized $100 BILLION Worth Of New Regulations This Year)
Leading off the report, McCain takes a swipe at Obamacare, which caused Blue Cross Blue Shield of Arizona, the largest insurer in the state, to “increase health insurance premiums 51 percent just to break even.” (RELATED: McCain Warns Obamacare May Leave Thousands Without Any Options)
The largest single regulation comes from the Department of Energy. The agency’s “new conservation standards and testing procedures for appliances ranging from air conditioners, small electric motors, ceiling fans, lamps, and pool pumps” could cost Arizona $168 billion, or $13,000 per household, McCain’s report says.
McCain notes that he and other senators have worked to repeal various Obama regulations, including attempts to repeal Obamacare.
(Editor’s note: This post has been updated)
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