Two Affordable Care Act (ACA) rules pushed regulatory costs above $1.8 billion this week. Annualized burdens were $541 million, with no benefit figures; paperwork accelerated by 4.6 million hours. A transportation safety regulation led the week.
The snow-filled streets of the nation’s capital did slow regulatory output later in the week, as the federal government was officially closed on Monday and Tuesday. However, regulators still managed to publish more than $340 million in burdens; annualized costs were just $28 million, compared to $175 million in benefits.
After $18 billion in regulatory burdens last week, regulators slowed the pace, reducing regulatory costs. Annualized costs fell by $53 million, compared to $240 million in benefits; paperwork grew by 22,000 hours.
The administration is wasting little time with regulation in 2016. After a $2 billion week to start the year, regulators published $18.1 billion in new rulemakings this week.
New year, new regulations for 2016. Regulators didn’t slow down, publishing $2.2 billion in regulatory burdens; annualized costs were $2.1 billion, compared to $102 million in annual benefits.
For the first time in months, regulatory costs declined. Led by a Department of Transportation (DOT) rule that cut net costs by $605 million and 21 million paperwork hours, regulatory costs declined by $459 million this week.
It was a slow week for federal regulation, with just $134 million in costs. Annualized costs were $29.9 million, compared to $2 million in benefits; paperwork accelerated by more than 18,000 hours. An EPA proposal on containment monitoring led the week. The per capita regulatory burden for 2015 is $592.
A Federal Reserve proposal for “Too Big to Fail” banks led a busy week in regulation. Total costs were $1.8 billion, compared to $1.5 billion in annual costs, and no monetized benefits; paperwork accelerated by 415,000 hours. The per capita regulatory burden for 2015 is $593.
A trio of food safety rules from the Food and Drug Administration (FDA) led a busy Thanksgiving week. Total regulatory costs were $5.6 billion, with $839 million in annual costs, compared to $925 million in benefits; paperwork accelerated by 2.1 million hours. The per capita regulatory burden for 2015 is $588.
Thanks to an Affordable Care Act rule, regulatory costs increased by more than $1.8 billion this week. Annual costs increased by $458 million, compared to $389 million in monetized benefits; paperwork accelerated by more than 2.4 million hours. There were sixteen regulations this week that monetized costs or benefits. The per capita regulatory burden for 2015 is $570.