Like most of the country, the federal government shut down for Thanksgiving. Despite the short work week, agencies still produced a roughly average number of regulations, while the Federal Register emphatically broke the 70,000-page barrier. There were an impressive 18 new regulations that affect small businesses; perhaps small business owners should be thankful it wasn’t an even worse week.
On to the data:
- Last week, 77 new final regulations were published in the Federal Register. There were 60 new final rules the previous week.
- That’s the equivalent of a new regulation every two hours and 11 minutes.
- All in all, 3,323 final rules have been published in the Federal Register this year.
- If this keeps up, the total tally for 2013 will be 3,612 new final rules.
- Last week, 1,794 new pages were added to the 2013 Federal Register, for a total of 71,394 pages.
- At its current pace, the 2013 Federal Register will run 77,516 pages, which would be good for fifth all time. The current record is 81,405 pages, set in 2010.
- Rules are called “economically significant” if they have costs of $100 million or more in a given year. One such rule was published last week, for a total of 36 so far in 2013.
- The total estimated compliance costs of this year’s economically significant regulations ranges from $6.42 billion to $11.83 billion.
- So far, 297 final rules that meet the broader definition of “significant” have been published in 2013.
- So far this year, 650 final rules affect small business; 88 of them are significant rules.
Highlights from selected final rules published last week:
- This week’s economically significant regulation comes from the National Highway Traffic Safety Administration, or NHTSA. New crash protection standards will bring an estimated $21.8 to $158.6 million in benefits. This wide, yet precise range reminds of the late William Niskanen’s observation that numbers to the right of the decimal point exist mostly to prove that economists have a sense of humor. NHTSA also estimates the new standards will cost $6.4 to $7.0 million.
- Satellite carriers pay a royalty fee for their secondary transmissions. As of January 1, 2014, that rate will undergo a cost-of-living increase of one percent.
- If you want to fish for red porgy for a profit, make sure you read this new regulation.
- Catchiest title of the week: Octadecanoic Acid, 12-Hydroxy-, Homopolymer, Ester With 2-Methyloxirane Polymer With Oxirane Monobutyl Ether; Tolerance Exemption
- Second catchiest: Need for Agency Approval of a Railroad’s Use of Certain Technology That Has Been Previously Approved for Use by a Different Railroad