Week in Regulation
January 9, 2015
New Year, More Regulation
Just a few days after regulators closed the books on more than $181 billion in regulatory burdens, they started 2015 with another $528 million in new costs. Annualized burdens were $125 million, compared to $177 million in benefits. Paperwork is off to a fast start, up by 258,000 hours, after declining in 2014.
- New Proposed Rules: 32
- New Final Rules: 38
- 2015 Significant Documents: 8
- 2015 Total Pages of Regulation: 1,470
- 2015 Proposed Rules: $260 Million
- 2015 Final Rules: $269 Million
One of the largest regulations of the week is designed to help beleaguered flyers traveling through New York City airports. FAA’s “Slot Management” for LaGuardia, Kennedy, and Newark international airports would replace previous regulations limiting scheduled operations at the three transportation hubs. The rule will cost roughly $46 million annually, with $65 million in benefits from improved slot utilization.
FAA also finalized a rule for air carriers “to improve the safety of its aviation-related activities.” The new standards are supposed to help airlines identify potential safety issues and mitigate those concerns. Possible long-term costs are $224 million, with more than 213,000 paperwork burden hours.
Affordable Care Act
Since passage, based on total lifetime costs of the regulations, the Affordable Care Act has imposed costs of $41.3 billion in state and private-sector burdens and 163.6 million annual paperwork hours.
Click here to view the total estimated revised costs from Dodd-Frank; since passage, the legislation has produced more than 63.7 million paperwork burden hours and imposed $32.9 billion in direct compliance costs. Based on calculations from the Financial Services Roundtable, Dodd-Frank regulations would require 31,940 employees to file federal paperwork.
Since January 1, the federal government has published $528 million in compliance costs and has added 258,000 paperwork burden hours. Click here for our comprehensive database of regulations and rulemakings promulgated in 2015.