OpenMarket.org is the staff blog of the Competitive Enterprise Institute (CEI). CEI is a non-profit public policy organization dedicated to advancing the principles of limited government, free enterprise, and individual liberty. Every week, the CEI releases a report on the continuing deluge of regulations that are passed and this week it is up. Regulations are strangling small business and forcing those impacted to figure them out, instead of focusing on their production of goods and services. Instead of passing new regulations, which have huge costs; policy makers, politicians, and bureaucrats should be doing the exact opposite and repealing regulations.
Unraveling the red tape of doing business in our country would result in lower costs for business owners, increasing their productivity, and job creation.
Below is just a snap shot and a fantastic illustration to our readers on our run-away government.
CEI's Battered Business Bureau: The Week In Regulation
This week in the world of regulation:
Last week, 88 new final rules were published, up from 71 the previous week.
That’s the equivalent of a new regulation every 1 hour and 55 minutes — 24 hours a day, 7 days a week.
All in all, 2,949 final rules have been published in the Federal Register this year.
If this keeps up, the total tally for 2012 will be 3,868 new rules.
Last week, 1519 new pages were added to the 2012 Federal Register, for a total of 61,135 pages.
At its current pace, the 2012 Federal Register will run 78,783 pages.
Rules are called “economically significant” if they have costs of $100 million or more in a given year. The 40 such rules published so far in 2012 have compliance costs of at least $17.4 billion. Two of the rules do not have cost estimates, and a third cost estimate does 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.
One economically significant rule was published last week.
So far, 296 final rules that meet the broader definition of “significant” have been published in 2012.
So far this year, 563 final rules affect small business; 83 of them are significant rules.
Highlights from final rules published last week:
Last week’s only economically significant regulation costs an estimated $5.232 million to $6.832 million. That’s because, as an anti-bioterrorism regulation, its benefits are automatically estimated in the billions of dollars. As always, we used the lower $5.232 million figure for this year’s running compliance cost tally.
If you want to volunteer for the federal government’s Senior Companions or Foster Grandparents programs, or for AmeriCorps, you now will have to undergo a “fingerprint-based FBI criminal history check.”