Week in Regulation
October 29, 2018
A Fairly Quiet Week
It was a relatively slow week in the pages of the Federal Register. There was one deregulatory proposal of note. There were a handful of routine regulatory actions. Beyond that? Not much else. Between both proposed and final rules last week, agencies published roughly $90.2 million in net costs, and increased paperwork by 65,112 hours. The per capita regulatory burden for 2018 is negative $28.34.
- New Proposed Rules: 30
- New Final Rules: 68
- 2018 Total Pages of Regulation: 53,948
- 2018 Final Rules: -$9.3 Billion
- 2018 Proposed Rules: -$544.9 Billion
TRACKING REGULATORY MODERNIZATION
There was one deregulatory proposal last week that included a quantified savings estimate. The proposed rule from the Department of the Army would revise certain aspects of how it operates its cemeteries. One of these changes is consolidating and simplifying the burial eligibility regulations. However, these savings are quite modest at roughly $40,000 annually. Since it is still a proposed rule, these savings do not yet accrue to the fiscal year (FY) 2019 regulatory budget under Executive Order (EO) 13,771.
So far into FY 2019, there have been three deregulatory actions against one regulatory action (per the rubric created by EO 13,771 and the administration’s subsequent guidance document) with quantified net savings of roughly $21.6 million. The administration’s cumulative savings goal for FY 2019 is approximately $18 billion.
STATE OF MAJOR OBAMA-ERA INITIATIVES
Based on total lifetime costs of the regulations, the ACA has imposed costs of $52.9 billion in final state and private-sector burdens and 176.9 million annual paperwork hours.
Since passage, the Dodd-Frank financial reform legislation has produced more than 82.9 million final paperwork burden hours and imposed $38.9 billion in direct compliance costs.
Since January 1, the federal government has published $554.2 billion in net cost savings (with $9.3 billion in net savings from final rules) and paperwork burdens amounting to roughly 7.1 million hours (including 8.2 million hours of paperwork reduced under final rules). Click here for the latest Reg Rodeo findings.