Economic Benefits of Federal Regulations
By lucas@endneoliberalism On 7 May, 2013 At 12:28 PM | Categorized As Progressive Politics | With 0 Comments

Contrary to claims by market fundamentalists, federal regulations are good for the economy. A draft report to Congress shows that the economic benefits outweigh the costs by a minimum of 4-to-1 and up to 10-to-1.

“The estimated annual benefits of major Federal regulations reviewed by OMB from October 1, 2002, to September 30, 2012, for which agencies estimated and monetized both benefits and costs, are in the aggregate between $193 billion and $800 billion, while the estimated annual costs are in the aggregate between $57 billion and $84billion.”

All agencies incurred greater benefits than costs. EPA, The Department of Energy, and the Department of Health and Human Services incurred the greatest benefit to cost ratio.

On 32 rules, the benefits of EPA ranged from $112 to $637 billion dollars versus $30 to $36 billion in costs.

On 19 rules by the Department of Health and Human Services, the benefits ranged from $16 to $40 billion versus $2.4 and $5 billion in costs.

12 rules by the Department of Energy brought $8 to $15 billion in benefits at a cost of $3.6 to $5.5 billion.

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Picture credit: ⋯ L I Z ⋯ CC BY 2.0

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