Outside of routine airworthiness directives, it was a slow week for regulations. In total, regulators added $128 million in costs, more than 730,000 burden hours, and no monetized benefits. Regulatory capital requirements and fire safety standards for Medicare and Medicaid providers led the week.
This week regulators added more than $1 billion in new regulatory costs, led by rearview cameras standards for vehicles. Annualized costs were also $1 billion, compared to $774 million in benefits, and 616,000 paperwork burden hours.
Regulators only published $17 million in new regulatory costs this week, a sharp decline from last week’s nearly $8 billion in total burdens.
A wild week in regulatory activity resulted in a steep increase in 2014’s cost burden, but an even steeper decrease in its cumulative paperwork burden. Agencies added nearly $8 billion in total costs. Energy efficiency standards for commercial refrigerators and the Department of Education’s new “Gainful Employment” rule were the main cost drivers. Yet, largely thanks to a proposed Transportation rule, the year’s net paperwork burden fell by nearly 15 million hours.
Regulators published $1.4 billion in total costs this week, with more than 6.7 million paperwork burden hours. Once again, annualized costs trumped benefits: $298 million to $145 million.
Regulators were busy this week with 20 notable regulations. Combined, they could impose $312 million in costs and more than 359,000 paperwork burden hours.
Even in the face of Monday’s snow day, regulators found time to publish more than $4.5 billion in total costs and nearly 3 million paperwork burden hours. Total published rulemaking costs in 2014 are now well past $10 billion.
On net, regulators actually reduced costs by approximately $25 million this week. Annualized costs were reduced by $79 million, paperwork hours declined by 1.9 million hours, and there were no listed benefits.
This week regulators published $2.3 billion in regulatory costs, including more than two million paperwork burden hours; annualized costs were $279 million and annual benefits were $269 million.
Regulators published $4 billion in regulatory costs this week, with 33,500 paperwork burden hours; annualized costs were $194 million, compared to $579 million in annualized benefits. Two final energy efficiency standards, for external power supplies and lamp fixtures, added more than $4 billion in long-term burdens.