As summer winds down and the nation heads towards the holiday weekend, agencies found time to add more than $2.2 billion in regulatory costs and 90,000 hours of paperwork. A Dodd-Frank rulemaking accounted for the vast majority of the week’s regulatory burdens.

Regulatory Toplines

• New Proposed Rules: 43
• New Final Rules: 73
• 2014 Significant Documents: 428
• 2014 Total Pages of Regulation: 51,835
• 2014 Proposed Rules: $57 Billion
• 2014 Final Rules: $69 Billion

AAF has catalogued regulations according to their codification in the Code of Federal Regulations (CFR). The CFR is organized into 50 titles, with each title corresponding to an industry or part of government. This snapshot will help to determine which sectors of the economy receive the highest number of regulatory actions.

Affordable Care Act

The only notable Affordable Care Act rulemaking was a joint interim final rule from IRS and HHS adjusting preventive care coverage arrangements in light of the Hobby Lobby decision. However, the rule brings minimal quantified burdens. Since passage, based on total lifetime costs of the regulations, the Affordable Care Act has imposed a cost of $27.5 billion in private-sector burdens, approximately $11.7 billion in costs to the states, and 162.1 million annual paperwork hours.

Dodd-Frank

The most significant highlight of the week came from CFPB’s proposed rule regarding “Home Mortgage Disclosure.” The proposal imposes more than $2.1 billion in total costs and 90,000 additional paperwork burden hours. It is the fourth most expensive Dodd-Frank rulemaking.

Click here to view the total estimated compliance costs from Dodd-Frank; since passage, the legislation has produced more than 60.5 million paperwork burden hours and imposed $24 billion in direct compliance costs. Based on calculations from the Financial Services Roundtable, Dodd-Frank regulations would require 30,277 employees to file federal paperwork.

Total Burdens

Since January 1, the federal government has published $126.1 billion in compliance costs and has imposed 23.9 million in net paperwork burden hours. Click here for our comprehensive database of regulations and rulemakings promulgated in 2014.