In its first year, the Biden Administration finalized regulations that added more than $200 billion in new regulatory costs. These increased costs have weighed down our economy various ways, but ultimately, the costs associated with these regulations were passed on to Southwest Michigan families and consumers in the form of higher prices. In 2022, President Biden only accelerated his costly agenda by proposing more than $1 trillion in new regulations. To stop this explosion of red tape and the price increases attached to it, House Republicans passed, and I supported, the REINS Act of 2023.
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