Report: Obama admin’s effort to "eliminate red tape" adds $16 billion in costs

The American Action Forum has found the reviews consist mostly of recycled regulations by federal agencies that have actually increased regulatory costs.

“The recent ‘retrospective reports’ from the administration reveal that executive agencies have added more than $16 billion in regulatory costs, up from $14.7 billion in the previous update, and 6.5 million paperwork hours,” the report said.

The agency reviews are a result of President Barack Obama’s initiative for a “government-wide review of rules on the books,” which the White House claims to have led to $28 billion in net five-year savings since 2011.

However, the American Action Forum has found retrospective reviews often add additional costs to the economy. A review in 2014 added $23 billion in costs and 8.9 million paperwork burden hours.