President Biden accelerated the regulatory state on his first day in office by ordering agencies to consider aspirational but vaguely defined goals and benefits when imposing new rules on businesses large and small.
The order greenlighting regulations even when the benefits “are difficult or impossible to quantify” sent shudders down the spines of CEOs. They fear business growth will be smothered in pursuit of vague objectives such as “human dignity” and “the interests of future generations.”
“It is the most aggressive thing I’ve ever seen by an administration,” said Doug Holtz-Eakin, president of the American Action Forum, a right-leaning economic think tank. “It’s one thing to put out a bunch of regulations, but this changes the way regulation is done. It allows you to jam through any regulation you want regardless of the impact [on] the private sector.”