Study: Eliminating One Government Regulator Can Save $6.2 Million And 100 Jobs

The high cost of regulation:

In Regulatory Expenditures, Economic Growth and Jobs: An Empirical Study, the center finds that reducing the size of the federal regulatory budget by even modest amounts will have significant positive effects on both GDP and private sector growth.

“In particular,” the group says, “even a small 5 percent reduction in the regulatory budget (about $2.8 billion) would result in about $75 billion in expanded private-sector GDP each year, with an increase in employment by 1.2 million jobs annually.”

“On average,” the Phoenix Center says, “eliminating the job of a single regulator grows the American economy by $6.2 million and nearly 100 private sector jobs annually. Conversely, each million dollar increase in the regulatory budget costs the economy 420 private sector jobs.”

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