Obama: 7 proposed regs would exceed $1 billion

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WASHINGTON (AP) ? President Barack Obama says his administration is considering seven regulations that would cost the U.S. economy more than $1 billion a year. In a letter to House Speaker John Boehner, Obama says his administration is also trying to reduce the burden of government rules.

In the letter dated Tuesday, Obama lists four proposed Environmental Protection Agency rules and three Department of Transportation rules estimated to cost in excess of $1 billion. One proposed EPA regulation on air quality standards is estimated to cost the economy between $19 billion and $90 billion.

Obama said the proposals are not final and that his administration will “give careful consideration” to cost-savings. He said his administration has made changes that have saved more than $10 billion in regulatory costs over the next five years.