2017: The Year in Regulation

2017: The Year in Regulation

- in Features, News
191
@PUMABydesign001

The swamp is deep as are the many agencies operating under Barack Obama’s regulations but President Trump is on it and there are positive signs although a daunting task.

The Daily Dish by Dan Bosch, Dan Goldbeck

The trend of regulatory activity shifted dramatically in 2017 once President Trump assumed the presidency. American Action Forum (AAF) research found that in 2017 federal agencies finalized 274 regulations that imposed $30.6 billion in total costs. These agencies trimmed 15.6 million paperwork burden hours. What is most noteworthy is the disparity in the regulatory activity of the last three weeks of the Obama Administration versus the more than 11 months of the Trump Administration. Despite substantial new regulatory costs finalized in the last weeks of the Obama Administration, the Trump Administration made significant progress in slowing this growth the remainder of the year. In fact, 81 percent of all regulatory costs finalized in 2017 came during President Obama’s final weeks in office.

SNAPSHOT

Other Notable Points:

  • Final Annual Costs: $10.3 billion
  • Total Final Costs Per Person: $94.74
  • Total Proposed Costs: $57.6 billion
  • Proposed Paperwork Hours: 4.5 million

The 274 finalized rules are the fewest since 2005, the first year for which AAF has data. The $30.6 billion in finalized costs is the lowest since 2013, when agencies imposed $29.5 billion. However, that same year agencies increased paperwork burden hours by 83 million. The 2017 paperwork reductions are the second-fewest since 2005, eclipsed only by the 23 million hours reduced in 2014.

Of the $30.6 billion in finalized costs last year, $24.8 billion came from 38 rules published from January 3-19, 2017, in the waning days of the Obama Administration. On January 30, 2017, President Trump formalized his regulatory vision by signing Executive Order 13,771, which set a goal of no new additional costs from significant regulation through the end of the fiscal year[…]

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