The House Oversight and Government Reform Committee today held a hearing to examine the impact of federal regulations on businesses and jobs.  You can view Chairman Issa’ s opening statement here.

The hearing comes alongside a new report from the Committee entitled “How the Administrative State has Broken President Obamas Promise of Regulatory Reform.”  The report sheds light on exactly how big the federal regulatory state is.  For example, it notes that “proposed rules have increased from 2,044 in 2009 to 2,439 in 2010.”   And, “the Obama Administration has imposed 75 new major regulations costing over $38 billion annually.”

And it’s only going to get worse: “The number of full time regulatory employees is expected to reach an all-time high of 291,676 in 2012″ and ” [O]f the 4,257 regulatory actions in the pipeline, 219 are considered economically significant, meaning they are estimated to impose a cost of $100 million or more on the economy.”

The full report is available here and video of today’s hearing should be online soon here.