"Obama: 7 Proposed Regs Would Each Top $1 Billion"

"President Barack Obama says his administration is considering seven new government regulations that would cost the economy more than $1 billion each a year, a tally Republicans will pounce on to argue that Congress needs the power to approve costly government rules.

In a letter to House Speaker John Boehner, R-Ohio, Obama lists four proposed Environmental Protection Agency rules and three Department of Transportation rules estimated to cost in excess of $1 billion. One of the proposed EPA rules — an update to the health-based standard for smog — is estimated to cost the economy between $19 billion and $90 billion.

The letter, dated Tuesday, comes as the Republican-controlled House prepares to consider legislation that would require congressional approval for any new regulations that would impose a significant cost on industries."

Jim Kuhnhenn reports for the Associated Press August 30, 2011.