CEI - Competitive Enterprise Institute

07/29/2024 | News release | Distributed by Public on 07/29/2024 05:37

This week in ridiculous regulations: Water heaters and children’s passports

Photo Credit: Getty

President Biden dropped out of the race, leaving Vice President Kamala Harris as the likely Democratic nominee. The Federal Register topped 60,000 pages and remains on an all-time record pace. GDP grew at a 2.8 percent annual rate in the second quarter of 2024. Agencies issued new regulations ranging from space station fees to squid management.

On to the data:

  • Agencies issued 62 final regulations last week, after 57 the previous week.
  • That's the equivalent of a new regulation every two hours and 43 minutes.
  • With 1,773 final regulations so far in 2024, agencies are on pace to issue 3,078 final regulations this year.
  • For comparison, there were 3,018 new final regulations in 2023, 3,168 in 2022, and 3,257 in 2021.
  • Agencies issued 33 proposed regulations in the Federal Register last week, after 47 the previous week.
  • With 1,007 proposed regulations so far in 2024, agencies are on pace to issue 1,748 proposed regulations this year.
  • For comparison, there were 2,102 proposed regulations in 2023, 2,044 in 2022, and 2,094 in 2021.
  • Agencies published 410 notices last week, after 509 notices the previous week.
  • With 13,416 notices so far in 2024, agencies are on pace to issue 23,292 notices this year.
  • For comparison, there were 22,902 notices in 2023, 22,505 in 2022, and 20,018 in 2021.
  • Last week, 1,831 new pages were added to the Federal Register, after 1,615 pages the previous week.
  • The average Federal Register issue in 2024 contains 424 pages.
  • With 60,789 pages so far, the 2024 Federal Register is on pace for 105,536 pages.
  • For comparison, the 2023 Federal Register totals 90,402 pages, the 2022 Federal Register has 80,756 pages, and 2021's is 74,352 pages. The all-time record adjusted page count (subtracting skips, jumps, and blank pages) is 96,994, set in 2016.
  • Rules with $200 million or more of economic effects in at least one year qualify as major under Section 3(f)(1). This replaces the former economically significant tag for $100 million-plus regulations. There are 13 such rules so far in 2024, with none in the last week.
  • This is on pace for 23 3(f)(1) regulations in 2024.
  • For comparison, there were 28 3(f)(1) and/or economically significant regulations in 2023, 43 economically significant rules in 2022, and 26 in 2021. Note that these are not apples-to-apples comparisons, since 3(f)(1) and economically significant rules have different thresholds.
  • The total estimated cost of 2024's 3(f)(1) major regulations ranges from net savings of $17.82 billion to net savings of $22.87 billion, per the Office of Management and Budget's Office of Information and Regulatory Affairs.
  • For comparison, the cost tally for 2023's 3(f)(1) major and economically significant regulations ranges from $62.60 billion to 90.48 billion. Cost estimates for 2022's economically significant rules range $45.28 billion to $78.05 billion. In 2021, net costs ranged from $13.54 billion to $1992 billion. The exact numbers depend on discount rates and other assumptions.
  • There were three new final regulations meeting the broader definition of "significant" last week, after two the previous week.
  • So far this year, there are 212 new regulations meeting the broader definition of "significant." This is on pace for 368 significant regulations in 2024.
  • For comparison, there were 290 such regulations in 2023, 255 in 2022, and 387 in 2021.
  • So far in 2024, 435 new regulations affect small businesses, on pace for 755. Forty-six of them are significant, on pace for 80.
  • For comparison, in 2023 there were 789 regulations affecting small businesses, 79 of them significant. In 2022 there were 912 regulations affecting small businesses, 70 of them significant. 2021's totals were 912 regulations affecting small businesses, 101 of them significant.

Highlights from last week's new final regulations:

And from last week's proposed regulations:

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

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