Report Details Costs Of Federal Rules

Major federal regulations issued over the past decade cost the U.S. economy between $44 billion and $62 billion each year, and they generate benefits worth $132 billion to $655 billion annually. So says the White House Office of Management & Budget’s yearly report to Congress estimating the costs and benefits of federal rules, which was released on June 24. EPA rules carry both the highest costs and the highest benefits, the report says, and air pollution regulations provide a majority of the total costs and benefits of all federal rules. For example, EPA’s 2007 rule on fine-particle air pollution costs an estimated $7.3 billion per year and provides health benefits ranging from $19 billion to $167 billion annually, the report says. It notes that these estimates have significant limitations because some benefits, such as ecological or homeland security ones, are challenging to convert into dollar figures. The report is available online at 1.usa.gov/lQzz1t.