The arctic temperatures closed the federal government on Tuesday, and with the holiday-shortened week, regulatory costs remained tame. Total costs were only $72 million, with $15 million in annualized burdens, and $30 million in benefits.
This week regulators published $1.1 billion in regulatory burdens. Annualized costs were $83.7 million, compared with $260 million in benefits, and 188,000 paperwork burden hours. A Department of Energy (DOE) proposal for “Hearth Products” led the week in burdens.
Regulators added $265 million in total burdens this week. Annualized costs were $98 million, compared to $154 million in benefits. Paperwork burdens accelerated by more than 590,000 hours. Proposed efficiency standards for warm air furnaces led the week.
Regulatory burdens took off for the first time in 2015, with more than $14 billion in total costs. Regulators also added 289,000 paperwork burden hours and $1.4 billion in annual benefits. Two energy efficiency rules led the week.
Regulators took a break this week, imposing $107 million in total costs with just three final rules that monetized burdens. There were $9.2 million in benefits and more than 40,000 paperwork burden hours. Mining safety standards headlined the week.
Just a few days after regulators closed the books on more than $181 billion in regulatory burdens, they started 2015 with another $528 million in new costs. Annualized burdens were $125 million, compared to $177 million in benefits. Paperwork is off to a fast start, up by 258,000 hours, after declining in 2014.
It was a week with highs and lows in the regulatory world: an ozone proposal that could impose $15 billion in costs and a rule relieving $1.7 billion in burdens on truckers. Annualized costs were $13.9 billion, compared to $38.6 billion in benefits; paperwork declined by 45.2 million hours.
Regulators published $400 million in total regulatory costs this week, thanks to a proposal regulating Accountable Care Organizations. Annualized costs were $129 million, compared to $124 million in benefits, and 115,000 paperwork burden hours.
After the holiday weekend, regulators caught up on new rules, publishing more than $2.4 billion in costs this week. In addition, there were also more than 3.3 million paperwork burden hours added. Menu labeling rules for restaurants and vending machines led the week.
This week regulators added $221 million in regulatory costs. Annual burdens were $217 million, compared to $515 million in quantified benefits; agencies published more than 700,000 paperwork burden hours. A consumer safety rule for off-highway vehicles led the week.