Insight
June 1, 2016
Administration’s Last Regulatory Pieces to Cost $113 Billion
With only a few months remaining in the president’s term, the administration released its penultimate regulatory agenda. An American Action Forum (AAF) review of the data found at least $113 billion in planned regulatory costs. This would be in addition to the more than $80 billion in final regulatory costs already published in 2016.
With little time to propose and finalize rulemakings by January 20, 2017, the administration listed only 14 new economically significant measures. Here are the notable new measures:
- OSHA’s “Occupational Exposure to Styrene”
- Treasury’s “Treatment of Certain Interests in Corporations,” which was officially published before the Unified Agenda was released, so the public had little notice
- HHS’s “Patient and Medical Information”
If anyone guessed that August would once again be a popular time for regulation, congratulations. As AAF has detailed in the past, generally when Congress recesses for the summer, regulatory activity increases. This Unified Agenda projects ten notable regulations will be released in August, at a cost of $62.9 billion or roughly 55 percent of all projected future regulatory costs under the Obama Administration.
With regard to “midnight regulation” or rules published after Election Day, but before the next president takes office, there are at least $5.2 billion in planned costs in November and December of 2016. These include a final Renewable Fuels Standard and requirements for Systemically Important Financial Institutions. The administration also plans to expand access to Non-VA Care through its “Veterans Choice Program” during the midnight period.
Below, there are approximately 40 notable rulemakings and their scheduled publication dates.
May-June |
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Agency | Stage | Rule | RIN | Cost (in millions) | |
DOJ | Final | Implementation of ADA Amendments | 1190-AA59 | $451 | |
EPA | Final | Emissions Standards for Fracking | 2060-AS30 | $530 | |
HHS | Final | Revision of Nutrition Labels | 0910-AF22 | $2,008 | |
HHS | Final | Serving Sizes of Foods | 0910-AF23 | $2,008 | |
DOL | Final | Unified and Combined State Plans | 1205-AB74 | $1,471 | |
DHS | Final | Retention of Immigrant Workers | 1615-AC05 | ||
Interior | Final | Arctic Drilling Regulations | 1082-AA00 | $1,324 | |
SEC | Final | Resource Extraction Issuers | 3235-AL53 | $1,326 | |
July |
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Agency | Stage | Rule | RIN | Cost (in millions) | |
DOT | Final | Commercial Driver’s License Clearinghouse | 2126-AB18 | $1,634 | |
Energy | Final | Conservation Standards: Ceiling Fans | 1904-AD28 | $2,400 | |
CFPB | Final | Requirements for Prepaid Cards | 3170-AA22 | $17 | |
August 2016 |
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Agency | Stage | Rule | RIN | Cost (in millions) | |
EPA | Final | Phase 2: GHG Standards for Heavy-Duty Engines, Vehicles | 2060-AS16 | $31,100 | |
Energy | Final | Conservation Standards: Dishwashers | 1904-AD24 | $7,100 | |
HHS | Final | Child Care Development Fund | 0970-AC67 | $2,578 | |
HHS | Final | Head Start Performance Standards | 0970-AC63 | $8,343 | |
HUD | Final | Smoke-Free Public Housing | 2577-AC97 | $212 | |
Energy | Proposed | Conservation Standards: Central Air Conditioners | 1904-AD37 | ||
DOL | Final | Personal Fall Protection Systems | 1218-AB80 | $173.2 | |
Energy | Final | Conservation Standards: Hearth Products | 1904-AD35 | $1,004 | |
Energy | Final | Conservation Standards: Gas Furnaces | 1904-AD20 | $12,270 | |
DHS | Final | Worker Identification Credential | 1625-AB21 | $186.1 | |
September-October 2016 |
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Agency | Stage | Rule | RIN | Cost (in millions) |
HHS | Final | Treatment for Opioid Disorders | 0930-AA22 | $955 |
DOL | Final | Paid Sick Leave for Contractors | 1235-AA13 | $142.3 |
HHS | Final | Protection of Human Subjects | 0937-AA02 | $13,342 |
HHS | Final | Requirements for Long-Term Care | 0938-AR61 | $3,018 |
HHS | Final | Enhanced Oversight and Accountability | 0955-AA00 | $650 |
November-December 2016 |
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Agency | Stage | Rule | RIN | Cost (in millions) | |
Interior | Final | Waste Prevention and Conservation | 1004-AE14 | $1,373 | |
HHS | Final | Restricted Use of Sunlamp Products | 0910-AH14 | $1,126 | |
Treasury | Final | Assessment of Fees for Large Banks | 1505-AC42 | ||
EPA | Final | Renewable Fuels Standard | 2060-AS72 | $683 | |
Energy | Final | Conservation Standards: Ovens | 1904-AD15 | $600 | |
FED | Final | Requirements for SIFIs | 7100-AE37 | $1,500 | |
2017 |
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Agency | Stage | Rule | RIN | Cost (in millions) |
DOJ | Final | ADA Guidelines for Passenger Vessels | 3014-AA11 | $1,088 |
SEC | Final | Investment Company Modernization | 3235-AL42 | $989 |
SEC | Final | Standards for Covered Clearing Agencies | 3235-AL48 | $225 |
SEC | Final | Rules for Security Swap Dealers | 3235-AL12 | $210 |
Long-Term |
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Agency | Stage | Rule | RIN | Cost (in millions) | |
DOT | Final | Requirements for Vehicle Operators | 2126-AB66 | $5,485 | |
HHS | Final | Requirements for Discharge Plans | 0938-AS59 | $1,895 | |
DOT | Final | Public Transportation Safety Plans | 2132-AB23 | $1,407 | |
DOE | Final | Conservation Standards: Boilers | 1904-AD01 | $863 | |
HHS | Final | Medicare, CHIP: Program Integrity | 0938-AS84 | $819 | |
DOT | Final | Pipeline Safety of Gas Transmission | 2137-AE72 | $711 | |
Possible Cost: $113 Billion
The $113 billion estimate contains roughly 40 monetized figures out of what will be hundreds of potential final rules. In the waning days of the administration, there is an incredible amount of uncertainty. Which party will capture the White House and Congress in the coming elections? The public does not know the cost of proposed rulemakings not yet published, nor the countless other rules that will be final next year, but were excluded from this agenda. Final costs could balloon or diminish significantly compared to earlier versions.
This is likely the administration’s last Unified Agenda of consequence. Although there were few new surprises, once again projected costs exceed $100 billion. At the current pace, regulators could easily publish more than $200 billion in total costs before the president’s term ends. The Unified Agenda might be a mundane document to most, but its contents have profound consequences for millions of Americans.