admin
08-04-2003, 01:54 PM
It takes money to develop regulations. These "administrative" costs include the cost of drafting, reviewing and gathering the basic information to issue a regulation. Although this is a substantial cost, it is small compared to the cost that society pays in complying with regulations.
"Federal agencies are budgeted to spend a record $30 billion in administrative costs on regulatory activities this year, thanks to increases in environmental, transportation security and securities regulation, according to a new report. "
With costs of this magnitude, every President since Richard Nixon has asked the White House Office of Management and Budget to review regulations before they are issued.
Read article (http://austin.bizjournals.com/extraedge/washingtonbureau/archive/2003/07/28/bureau3.html)
"Federal agencies are budgeted to spend a record $30 billion in administrative costs on regulatory activities this year, thanks to increases in environmental, transportation security and securities regulation, according to a new report. "
With costs of this magnitude, every President since Richard Nixon has asked the White House Office of Management and Budget to review regulations before they are issued.
Read article (http://austin.bizjournals.com/extraedge/washingtonbureau/archive/2003/07/28/bureau3.html)