This week, despite a measure to reduce costs and paperwork, regulators added $229 million in total regulatory costs. There were no rulemakings that monetized benefits. The Bureau of Land Management’s (BLM) final fracking rule led the week.
This week, the American Action Forum (AAF) launched five years of research: Reg Rodeo. The online database contains information on every federal rule with a quantifiable cost or paperwork burden since 2008. Users can search federal rules by the affected industry, agency, or by law (Affordable Care Act or Dodd-Frank).
Regulators pushed passed $30 billion for the year by adding more than $12.2 billion in costs this week. Annualized costs were $750 million, compared to $1.5 billion in benefits, and more than 7,100 paperwork burden hours. The Department of Energy’s (DOE) proposal on new efficiency standards for furnaces led the week.
Despite the snow delays from the early March storm, regulatory agencies published nearly $400 million in regulatory costs and 8.4 million paperwork burden hours. Quantified annual benefits came in at only $9.2 million, compared to $370 million in annual costs. A rulemaking from the Department of Health and Human Services (HHS) updating its acquisition procedures led the week.
Regulators added $1.8 billion in cumulative burdens this week through 13 regulations with quantified costs. Annual benefits were $112 million and regulators published 3.6 million paperwork burden hours. The Department of Interior’s (DOI) proposal on drilling on the outer continental shelf led the week.
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.