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.
This week regulators published just $81 million in annual burdens. There were no reported benefits, but there were more than 2.5 million new paperwork burden hours. A rule from the Centers for Medicare and Medicaid Services (CMS) on overpayment led the week.
Tuesday’s elections saw a major shift in the balance of Congress. However, there were relatively few actions of note amongst administrative agencies. In total, regulators published more than $260 million in compliance costs and 800,000 hours of paperwork against $225 million in benefits. Amended railroad safety standards and the implementation of Veterans Affairs (VA) reform led the week.
The Department of Education’s final Gainful Employment rule pushed yearly costs past $157 billion in 2014. In addition to the compliance burdens, the rule adds close to seven million paperwork burden hours. The Comptroller of the Currency (OCC) published the other notable rulemaking this week.