CEI’s Battered Business Bureau: The Week In Regulation

by Ryan Young on November 19, 2012

in Features, Regulation

Post image for CEI’s Battered Business Bureau: The Week In Regulation

This week in the world of regulation:

  • Last week, 48 new final rules were published, down from 61 the previous hurricane-shortened week.
  • That’s the equivalent of a new regulation every 3 hours and 30 minutes — 24 hours a day, 7 days a week.
  • All in all, 3,304 final rules have been published in the Federal Register this year.
  • If this keeps up, the total tally for 2012 will be 3,767 new rules.
  • Last week, 1,846 new pages were added to the 2012 Federal Register, for a total of 69,271 pages.
  • At its current pace, the 2012 Federal Register will run 78,008 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. The 45 such rules published so far in 2012 have compliance costs of at least $24 billion. Two of the rules do not have cost estimates, and two other rules have cost estimates that do not give a total annual cost. We assume that rules lacking this basic transparency measure cost the bare minimum of $100 million per year. The true cost is almost certainly higher.
  • Two economically significant rules were published last week.
  • So far, 319 final rules that meet the broader definition of “significant” have been published in 2012.
  • So far this year, 623 final rules affect small business; 90 of them are significant rules.

Highlights from final rules published last week:

  • Both of this week’s economically significant rules are health care-related. The first rule weighs in at 357 pages, and will increase Medicare spending by $4.571 billion. I am scoring it as zero-cost in our running tally, since this is government spending and not compliance costs.
  • A new OSHA rule regulates longshoremen’s headwear.
  • The second rule alone is 483 pages long. A coherent cost estimate is not given. Since many of the provisions require extensive paperwork and other compliance measures, as opposed to government spending, I am counting it as costing $100 million, the bare minimum needed for its economically significant status. The real cost is almost certainly higher.

For more data, go to TenThousandCommandments.com.

Comments on this entry are closed.

Previous post:

Next post: