Department of Defense, General Services Administration, and National Aeronautics and Space Administration: Federal Acquisition Regulation; Fair Pay and Safe Workplaces
Abstract
The Department of Defense (DOD), General Services Administration (GSA), and National Aeronautics and Space Administration (NASA) (collectively, the agencies), performed a cost benefit analysis in conjunction with the Regulatory Impact Analysis (RIA) and which was summarized in the final rule. The Department of Labor (DOL), in its capacity as the lead program agency for implementation, also contributed to the RIA. The final rule presents a subject-by-subject analysis of the benefits and costs of the final rule, followed by a summary of these benefits and costs, including the total benefits and costs over the 10-year period of analysis. The subject-by-subject analysis sections of the RIA provide comprehensive and detailed discussion of the estimating methodologies used. The agencies included a table (Exhibit 8) that presented a summary of the first-year, second-year, and annualized quantifiable costs final rule disclosure and paycheck transparency requirements to contractors and subcontractors, as well as the estimated government costs. It also includes both the first-year and second-year impacts because the final rule's requirement for contractors and subcontractors to report labor law violations will be phased in over 3 years. The agencies incorporated by reference, a summary of monetized costs of the final rule, from RIA Exhibit 8,and stated that the monetized costs displayed are the yearly summations of the calculations that were described. The total monetized year one costs for both employer and government is $474,075,099 and the total monetized year two costs for both are $423,862,572. The annualized costs for both with a 3 percent discounting and 7 percent discounting are $409,535,973 and $412,031,335, respectively.
Document Details
- Document Type
- Technical Report
- Publication Date
- Sep 08, 2016
- Accession Number
- AD1154052
Entities
People
- Robert J Cramer