The outgoing Obama administration has greatly expanded its Environmental Protection Agency (EPA) over the past eight years – to the point that Americans are individually feeling its economic toll on their wallets.

With President-elect Donald Trump waiting to receive his keys to the White House next month, many Americans are excited to see how he can loosen the grip of the business-killing EPA’s penalties and restrictions on businesses and consumers.

Saving the planet or fleecing the wallet?

The excessive restrictions enforced by President Barack Obama and the EPA has reached astronomical proportions, with the American Action Forum (AAF) reporting that the regulatory costs imposed on Americans by the government agency has reached more than $1 trillion.

When taking a closer look at the EPA’s stronghold on Americans’ wallets, the federal agency has been found to cost approximately $3,080 per person.

And as the Obama administration finishes its final year, records show that the EPA has finalized a total of 4,432 new regulations on Americans.

In the name of conservation or environmentalism, the EPA is greatly reducing the standard of living and increasing the cost of living for every American.

“In other words, each year, every person – regardless of age – in the nation is responsible for paying roughly $540 in regulatory costs,” AAF Director of Regulatory Policy Sam Batkins explained, according to TheBlaze. “These burdens might take the form of higher prices, fewer jobs or reduced wages.”

Raking in hundreds of billions of dollars, Obama’s climate change agenda imposed by the EPA has worked to tap into the incomes of Americans at every socioeconomic level.

“The Obama Administration surpassed 500 major regulations last summer, imposing $625 billion in cumulative costs,” Batkins announced. “Earlier this year, regulators published the administration’s 600th major rule, increasing burdens to $743 billion.”

For the first time in United States history, the EPA’s total reached the $1 trillion mark under the Obama administration, which has significantly extended the arm of big government into virtually every aspect of Americans’ lives.

“Now, thanks to data from the last term of the Bush Administration and another billion-dollar rule from [the] EPA, the regulatory tally has surpassed $1 trillion,” Batkins continued. “These figures are direct estimates from federal regulators, but it will take more than an effort from these regulators to amend hundreds of major regulations.”

Not over yet …

The economic expert says that it is going to takes a concerted effort by Trump and the other branches of government to reverse the regulatory burden that Obama’s EPA has inflicted upon Americans and the way they do business.

“Congress, the next president and even the courts must participate in the next generation of regulatory modernization,” Batkins concluded.

But the regulatory frenzy is not over yet, as reports indicate that the outgoing president’s push to finalize many more EPA regulations will not relent until his last days in office.

“Obama is said to continue to increase this burden as much as possible before his term is up by locking up as many regulations as possible,” TheBlaze’s Brandon Morse reports.

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Copyright OneNewsNow.com. Reprinted with permission.

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