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Tip
Sheet: Business, Law & Economics Tip sheets highlight timely news and events at Washington University in St. Louis. For more information on any of the stories below or for assistance in arranging interviews, please see the contact information listed with each story. For comments on the Business, Law & Economics news tips service, please contact the editor, Robert Batterson at (314) 935-5202 or batterson@olin.wustl.edu. Mercatus and Weidenbaum Centers release study on fiscal year 2002 and 2003 expenditures and staffing of federal regulatory agencies September 11th causes increase, shift in regulatory spending Media assistance: Gerry Everding - (314) 935-6375 or Jennifer Berkowitz - (703) 726-9167 Related: Mercatus Center's Web site Related: Weidenbaum Center's Web site [St. Louis, Mo., June 2002] - Arlington, VA and St. Louis, MO - A new study shows overall spending and staffing of federal regulatory agencies increased dramatically in fiscal year 2002 -- due to the September 11th terrorist attacks -- but is expected to fall slightly in fiscal year 2003. The regulatory budget for the Department of Transportation now exceeds that of any other federal agency.
"Greater resources are being directed toward regulatory activities in response to the terrorist attacks, particularly those directed at the transportation sector," said Susan Dudley, senior research fellow in the Regulatory Studies Program at the Mercatus Center and a study co-author. "For the first time since 1976, the regulatory budget of the Department of Transportation exceeds that of the Environmental Protection Agency." The study authors also found that overall expenditures on federal regulatory activity will be at an all-time high in FY2002, jumping nearly 15 percent between 2001 and 2002 to $25.1 billion. The budget request for 2003 suggests a slight decline from that peak to $24.6 billion. "Like the budgets, staffing at federal regulatory agencies also is projected to grow in 2002 and 2003," said Melinda Warren, director of the Weidenbaum Center Forum and the study's co-author. "In 2003, regulatory staffing is likely to be over 11 percent higher than it was just two years earlier. We estimate it could be as high as 139,002 in 2003."
This report classifies federal regulatory agencies into two main categories. The first category comprises social regulations, which are designed to address issues related to health, safety and the environment. Their activities are generally limited to a specific issue, but they also have the power to regulate across industry boundaries. Economic regulations, which make up the second category, regulate a broad base of activities in particular industries using economic controls such as price ceilings or floors, quantity restrictions, and service parameters. The figure below gives the trend in both economic and social regulation from 1960 to 2003. ---------------- The Mercatus Center is an education, research, and outreach program at George Mason University that works with scholars, policy experts, and government officials to bridge academic theory and real-world practice. The Weidenbaum Center on the Economy, Government, and Public Policy at Washington University in St. Louis supports scholarly research, public affairs programs, and other activities in the fields of economics, government, and public policy, serving as a bridge between scholarship and policy makers. |
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