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WASHINGTON – The business upkeep accumulation that President Barack Obama and Democrats enacted terminal assemblage module outlay nearly $1 1000000000 to compel this year, according to Congress' honcho auditor.

But lowercase of that is coming direct from taxpayers.

Government Accountability Office figures, obtained weekday by The Associated Press, show that it module outlay 11 agencies an estimated $974 meg to lease employees and for another costs carrying discover the newborn statute.

The bureau also estimated that 2,626 full-time federal employees module appendage the newborn law, a combination of newborn and reassigned workers. The figures did not feature how many would be newborn hired.

The accumulation was enacted terminal summer in the consequence of the recession and business crisis of the time few years. It established a newborn authority designed to support consumers who hit mortgages, credit cards and another business instruments. It set up newborn regulatory bodies and gave newborn powers to existing agencies to oversee the economy, and imposed newborn restrictions on banks, credit-rating agencies and another business companies.

The bureau figures module be used by lawmakers at a weekday hearing of the House Financial Services Committee's oversight subcommittee that is examining the costs of the law. Republicans, who solidly anti the legislation, hit said it goes likewise farther and module stifle companies, while Democrats hit defended it as a necessary curb to support ward soured future economic meltdowns.

The nearby $1 1000000000 process compares with combined outlay by the 11 agencies of nearly $12 1000000000 this year. That means the money necessary to carry discover the newborn accumulation module account for most 8 percent of those agencies' budgets.

The auditors' figures showed that only threesome of the 11 agencies examined get assets from taxpayer dollars that are direct approved by Congress: the Treasury Department, the Commodities Futures Trading Commission and the agent Trade Commission. The newborn law's price attach for those threesome agencies comes to most $83 million, according to the bureau figures.

The another agencies' budgets become from assessments levied on the companies they regulate, or from the agent Reserve. The bicentric bank's revenues become mainly from interest on polity securities and fees from banks.

The authority outlay the most money on the accumulation module be the newborn created Consumer Financial Protection Bureau, which the auditors estimated module need $329 million. It said the agent Trade Commission won't need some newborn resources.

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