January 8, 2014
AAF Research Finds Regulators Added $112 Billion in Regulatory Costs, 157 Million Paperwork Hours in
Last year, federal regulators added $112 billion in new regulatory costs and 157 million paperwork hours, according to new research released today by the American Action Forum (@AAF).
“From 2009 to 2013, regulators have published $494 billion in final rules. This figure dwarfs the Gross Domestic Product (GDP) from countries like Sweden, Peru, and Ireland,” says Sam Batkins, AAF’s Director of Regulatory Policy. “With more than $87 billion in proposed rules in 2013, likely to be finalized in 2014, burdens will continue to escalate.”
Additional key findings from the report include:
• $447 million in new regulatory costs added per day for each of the 251 days the federal government was opened last year;
• 2,974 additional pages of regulations added in 2013 than in 2012;
• 104 economically significant regulations were reviewed by the Office of Information and Regulatory Affairs, a 25 percent increase over 2012.
Click here to read the research.