CEI’s Battled Business Bureau: The Week in Regulation

Nearly 2,000 Federal Register pages contain regulations for everything from pay ratios to apricots.

On to the data:

  • Last week, 76 new final regulations were published in the Federal Register, after 83 the previous week.
  • That’s the equivalent of a new regulation every two hours and 13 minutes.
  • So far in 2015, 2,105 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,248 new regulations this year, which would be several hundred fewer rules than the usual total of 3,500-plus.
  • Last week, 1,993 new pages were added to the Federal Register, after 1,285 pages the previous week.
  • Currently at 49,073 pages, the 2015 Federal Register is on pace for 74,969 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. Nineteen such rules have been published so far this year, none in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.32 billion to $1.41 billion for the current year.
  • 177 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 352 new rules affect small businesses; 53 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and@RegoftheDay on Twitter.

CEI’s Battered Business Bureau: The Week in Regulation

The number of this year’s new regulations zoomed past the 2,000 mark, though the pace is still slower than usual. This week’s new rules cover everything from mailboxes to macadamia tree insurance.

On to the data:

  • Last week, 83 new final regulations were published in the Federal Register, after 71 the previous week.
  • That’s the equivalent of a new regulation every two hours and two minutes.
  • So far in 2015, 2,029 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,231 new regulations this year, which would be several hundred fewer rules than the usual total of 3,500-plus.
  • Last week, 1,285 new pages were added to the Federal Register, after 1,586 pages the previous week.
  • Currently at 47,080 pages, the 2015 Federal Register is on pace for 74,969 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. Nineteen such rules have been published so far this year, none in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.32 billion to $1.41 billion for the current year.
  • 169 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 337 new rules affect small businesses; 51 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and @RegoftheDay on Twitter.

 

Slow News Day

The Hill: Obama, Hillary to attend Martha’s Vineyard birthday party

CEI’s Battered Business Bureau: The Week in Regulation

As it zoomed past the 45,000-page mark, the 2015 Federal Register saw new regulations covering everything from space particles to raspberries.

On to the data:

  • Last week, 71 new final regulations were published in the Federal Register, after 74 the previous week.
  • That’s the equivalent of a new regulation every two hours and 22 minutes.
  • So far in 2015, 1,946 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,201 new regulations this year, which would be several hundred fewer rules than the usual total of 3,500-plus.
  • Last week, 1,586 new pages were added to the Federal Register, after 1,540 pages the previous week.
  • Currently at 45,795 pages, the 2015 Federal Register is on pace for 77,882 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. Nineteen such rules have been published so far this year, three in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.32 billion to $1.41 billion for the current year.
  • 165 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 331 new rules affect small businesses; 51 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and@RegoftheDay on Twitter.

CEI’s Battered Business Bureau: The Week in Regulation

One of this week’s 55 proposed regulations is a 264-page Interior Department regulation to prevent water stream pollution from coal mines. Final rules published cover everything from dairy tariffs to extension cords.

On to the data:

  • Last week, 74 new final regulations were published in the Federal Register, after 65 the previous week.
  • That’s the equivalent of a new regulation every two hours and 16 minutes.
  • So far in 2015, 1,875 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,189 new regulations this year, which would be several hundred fewer rules than the usual total of 3,500-plus.
  • Last week, 1,586 new pages were added to the Federal Register, after 1,540 pages the previous week.
  • Currently at 45,795 pages, the 2015 Federal Register is on pace for 77,882 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. Sixteen such rules have been published so far this year, none in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.32 billion to $1.41 billion for the current year.
  • 157 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 323 new rules affect small businesses; 48 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and @RegoftheDay on Twitter.

Ten Weak Reasons to Support Ex-Im

Rep. Carolyn Maloney supports reauthorizing the Export-Import Bank, whose charter lapsed on June 30. She recently took to the Huffington Post to give 10 reasons to support Ex-Im. Here’s reason 1:

Exports play an important role in the U.S. economy, supporting nearly 12 million jobs in 2014.

Ex-Im did about $27.5 billion worth of business last year, amounting to about 1.2 percent of America’s $2.35 trillion in total 2014 exports, and less than one-sixth of one percent of America’s $17.7 trillion 2014 GDP. From this, Rep. Maloney concludes that Ex-Im supports nearly a tenth of the entire U.S. workforce!

Also note the clever use of phrasing here. Rep. Maloney and other Ex-Im supporters always talk about jobs “supported,” and never jobs “created” or “saved.” This is on purpose. Such phrasing is vague enough to make Ex-Im look good without having to prove that it’s actually doing good. This is important, since every time Ex-Im helps Boeing sell a jet to a foreign airline, it hurts domestic airlines and eliminates jobs there. I am not aware of any official Ex-Im statistics on how many jobs the agency has un-supported.

Reason 5 is similar, and reads in part:

Since 2009, our Ex-Im Bank has supported an estimated 1.3 million jobs.

That averages out to 260,000 jobs supported per year (again, note the phrasing), or about one-sixth of one percent of the total year-end 2014 labor force, according to theBureau of Labor Statistics. Since Ex-Im’s annual support is equivalent to only $2,300 per job supported, most of those jobs would still exist without Ex-Im—in fact, since Ex-Im is largely redundant with private sector financing, its actual amount of net support created is far smaller than even its own meager statistics show. Factor in the jobs Ex-Im unsupports, and Ex-Im is almost certainly a net drag on the U.S. economy.

Rep. Maloney’s other reasons are of similar strength.

Reasons 2, 3, 4, and 7 are all variations of the “but other governments do it, too” fallacy and the unilateral disarmament fallacy.

Boeing’s own CEO debunked reason 6 in a recent shareholder call. Maloney argues the private sector will be unable to step into any void Ex-Im leaves. Boeing, which receives 40 percent of Ex-Im’s business, publicly disagrees.

The Congressional Budget Office also publicly disagrees with Rep. Maloney on reason 8, even though it answers in part to her. The facts require it to do so. Maloney argues that Ex-Im is costless to taxpayers. Using the same standard accounting rules most government agencies and nearly the entire private sector use, Ex-Im loses millions of dollars each year. It only appears profitable when using Ex-Im’s in-house accounting methods, which are, ahem, rather different.

Reason 9 correctly argues that many Republicans support Ex-Im. For Democrats like Rep. Maloney and independents like myself, if the GOP supports something, that alone is often reason enough to oppose it. And Maloney also fails to mention President Reagan’s vocal opposition to Ex-Im (video evidence here and here), as well as the fact that he cut the agency’s portfolio cap in real terms.

Finally, Maloney’s reason 10 is that a lot of pro-business groups support Ex-Im. Of course they do! Ex-Im is a welfare program for businesses. Consumers would be better served if the government would follow pro-market policies, not pro-business policies. There is a world of difference between the two.

Instead of seeking cogent arguments from Ex-Im supporters, it is better to simply recognize that they wish to continue benefiting from the extensive lobbying, cronyism, and favor-making that institutions like Ex-Im make possible. One should also recognize their creativity in creating cover stories for their cronyism. For a more convincing top ten list of reasons to oppose Ex-Im, see my paper, and keep an eye on this blog for more.

CEI’s Battered Business Bureau: The Week in Regulation

The Dodd-Frank financial regulation bill turned five years old this week (see CEI analysis here, here, and here). Other than that, it was business as usual, with 44 proposed regulations and more than 60 final regulations covering everything from bigeye tuna to heat pumps.

On to the data:

  • Last week, 65 new final regulations were published in the Federal Register, after 78 the previous week.
  • That’s the equivalent of a new regulation every two hours and 35 minutes.
  • So far in 2015, 1,801 final regulations have been published in the Federal Register. At that pace, there will be a total of 3,171 new regulations this year, which would be several hundred fewer rules than the usual total of 3,500-plus.
  • Last week, 1,540 new pages were added to the Federal Register, after 2,764 pages the previous week.
  • Currently at 44,209 pages, the 2015 Federal Register is on pace for 77,833 pages.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. Sixteen such rules have been published so far this year, none in the past week.
  • The total estimated compliance cost of 2015’s economically significant regulations ranges from $1.32 billion to $1.41 billion for the current year.
  • 150 final rules meeting the broader definition of “significant” have been published so far this year.
  • So far in 2015, 313 new rules affect small businesses; 46 of them are classified as significant.

Highlights from selected final rules published last week:

For more data, see Ten Thousand Commandments and follow @10KC and @RegoftheDay on Twitter.