The new rules mostly focus on clean energy and vehicle regulations, said the American Action Forum, which issued the report Monday. The state that was hit the hardest by new regulations was California, which was slapped with $7.9 billion in new rules, followed by Texas ($6.5 billion) and Ohio ($3.4 billion).
"What do these huge sums mean for individuals? Higher energy prices, pricier household goods, a more expensive mortgage, and the promise of yet another year of unrelenting regulatory growth," concludes the report, which was authored by Sam Batkins, the group's director of regulatory policy. "No one can accuse the president of abandoning his promises on regulation in 2014."
The report also found that the Dodd-Frank financial regulatory act and ObamaCare contributed, adding $16.7 billion and $1.9 billion in total costs, respectively. That brings the total cost of ObamaCare, which was passed into law in 2010, to $41.3 billion, according to the report.
In a similar report issued last week, the right-leaning Competitive Enterprise Institute found that the Federal Register, which, among other records, publishes rules and regulations of federal agencies, stood at 78,978 pages at the end of 2014, the fifth-highest count ever.
The American Action Forum was founded in 2009 by Douglas Holtz-Eakin, a former director of the Congressional Budget Office.'