A report from the Job Creators Network shows that regulations from the Biden administration have cost the U.S. more than $1 trillion, which averages up to thousands of dollars per family.

First shared with the Daily Caller, the report highlighted that there have been 923 new federal regulations under Biden, which had come with a total of up to $1.6 trillion in costs.

The Job Creators Network estimated that new regulations in the first two years of Biden's administration have led to an average of $10,000 in present and future costs to American households.

“Federal bureaucrats are pushing an unprecedented regulatory agenda that’s crushing American small businesses and families at a time of already high inflation,” Alfredo Ortiz, CEO of the Job Creators Network told the Caller in a statement. “Not only are they exceeding their authority, but the economic strain is creating long-term problems for the folks that are the backbone of our economy.”

The Biden administration has reportedly put multiple regulations on appliances in order to lower emissions which is also going to impact families. The new standards for washing machines are expected to cost $200 per unit. Gas furnace efficiency standards will go up to $494 on average.

The administration reportedly plans to finalize these regulations before the upcoming 2024 election.