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Taxpayers must pay the freight for over-budget train projects
Topic - Diane Katz
Congress' mammoth farm bill restores the imposition of an extra fee on home heating oil, hitting consumers in cold-weather states just as utility costs are spiking.
Every American knows about the income tax, but how many are aware of the regulatory tax?
Nothing in life is certain but death and taxes, the saying goes. Unfortunately, the list doesn't stop there. We can add one other inescapable component: regulations.
"The economy isn't growing as fast as it needs to." That's Commerce Secretary Gary Locke addressing the latest report on the country's economic output. His comment is a model of understatement: Gross domestic product (GDP) grew less than 1 percent in the first half of this year. As Reuters news agency put it, the U.S. economy came "perilously close to flat-lining in the first quarter."
Ms. Katz said hiding a piece of legislation in the farm bill that could not pass on its own is not the right way to move legislation and could end up hurting the oil heat provision by tying the Energy Department initiative to future farm bills that could face political trouble.
"To say they can't pass on the cost, are they supposed to take it out of their kid's college fund?" said Diane Katz, research fellow in regulatory policy at the Heritage Foundation. "It's kind of silly because of course the costs are going to get passed on. Money is fungible. There's no way it's not going to get passed on to the consumer."