Week in Regulation
September 25, 2017
Another Deregulatory Week
As the first phase of President Trump’s one-in, two-out executive order draws to a close, a deregulatory measure from the Environment Protection Agency (EPA) was the main highlight in the world of regulations. That rulemaking led to roughly $21 million in net cost savings across all agencies. It also brought $33 million in forgone benefits. Various agencies combined to add 54,345 paperwork burden hours to the picture. The per capita regulatory burden for 2017 is $451.
- New Proposed Rules: 34
- New Final Rules: 78
- 2017 Total Pages of Regulation: 44,410
- 2017 Final Rules: $32.9 Billion
- 2017 Proposed Rules: $111.4 Billion
The American Action Forum (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 of final rules (a change from earlier versions) will help to determine which sectors of the economy receive the highest number of regulatory actions.
Tracking Regulatory Modernization
The main deregulatory action of the week was an EPA rule that extended the compliance dates for power plant run-off requirements. EPA estimates that the measure could save affected entities $36.8 million annually. However, they also note that this lag in compliance could result in “foregone annualized benefits” of as much as $33.6 million.
On regulatory budget implementation, below are the agencies that have accrued annual savings or new costs under the president’s one-in, two-out budget; proposed rules are not included:
- Defense: -$400 million
- Interior: -$360.37 million
- Education: -$100 million
- Labor: -$78 million
- Veterans Affairs: -$1.9 million
- HHS: $23.9 million
- EPA: $23.2 million
- Energy: $34 million
Many of these figures are the result of CRA resolutions of disapproval. Given their historic regulatory output, AAF can predict that Defense, Interior, Education, Labor, and Veterans Affairs will likely have less than $0 in net regulatory costs by the end of this fiscal year – less than a week away now.
Affordable Care Act
Since passage, based on total lifetime costs of the regulations, the Affordable Care Act has imposed costs of $53 billion in final state and private-sector burdens and 176.9 million annual paperwork hours.
Click here to view the total estimated revised costs from Dodd-Frank; since passage, the legislation has produced more than 74.8 million final paperwork burden hours and imposed $38.9 billion in direct compliance costs.
Since January 1, the federal government has published $144.3 billion in compliance costs ($32.9 billion in final rules) and has cut 18.2 million paperwork burden hours (due to 23.7 million in reductions from final rules). Click below for the latest Reg Rodeo findings.