Highlights from the 2018 edition include:
- Federal regulations and intervention cost Americans $1.9 trillion in 2017.
- Federal regulation is a hidden tax that amounts to nearly $15,000 per U.S. household each year, more than Americans spend on any category in their family budget except for housing.
- In 2017, 97 laws were enacted by Congress during the calendar year, while 3,281 rules were issued by agencies. Thus, 34 rules were issued for every law enacted.
- If it were a country, U.S. federal regulation would be the world’s eighth-largest economy, ranking behind India and ahead of Italy.
- Many Americans are concerned about their annual tax burden, but total regulatory costs exceeded the $1.88 trillion the IRS collected in both individual and corporate income taxes in 2017.
- Some 67 federal departments, agencies, and commissions are currently working on 3,209 new regulations in various stages of development.
- The five most active rulemaking entities– the Departments of Commerce, Defense, Transportation, Treasury, and the Environmental Protection Agency–account for 1,359 rules, or 43 percent of all proposed regulations currently under consideration.
- The 2017 Federal Register contained 61,308 pages, the lowest count since 1993 and a 36 percent drop from Obama’s 95,894 pages in 2016, the highest level ever recorded.