Federal Register - September 10, 2021
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Source: Federal Register
Federal Register / Vol. 86, No. 173 / Friday, September 10, 2021 / Proposed Rules avoided, while CBP would save approximately $599,400 in processing costs.82 See Tables 23 and 24.
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approximately $599,400 in processing costs.82 See Tables 23 and 24.
TABLE 23PENALTIES AVOIDED BY BROKERS
2021 U.S. Dollars Penalties avoided
Year 2021
2022
2023
2024
2025
2026
Fines avoided per penalty
Total
23
23
23
23
23
23
$2,664
2,664
2,664
2,664
2,664
2,664
$59,940
59,940
59,940
59,940
59,940
59,940
Total
135
15,984
359,640
Totals may not sum due to rounding.
TABLE 24COSTS AVOIDED BY CBP
2021 U.S. Dollars Penalties avoided
Year 2021
2022
2023
2024
2025
2026
Cost savings per penalty
Total
23
23
23
23
23
23
$4,440
4,440
4,440
4,440
4,440
4,440
$99,900
99,900
99,900
99,900
99,900
99,900
Total
135
26,640
599,400
Totals may not sum due to rounding.
8. Net Impact of the Rule The proposed rule would lead to costs for brokers in the form of tuition, travel expenses, opportunity cost, and time spent researching, registering for, keeping records of, and reporting continuing education. CBP would face the costs of designating accreditors and auditing broker compliance. Accreditors
would incur the costs of responding to a CBP-issued RFP, and education providers would incur the costs of drafting applications and fees charged by the accreditors for reviewing their accreditation requests. CBP would also see cost savings benefits from avoided penalty assessment and avoided regulatory audits. CBP has found that
companies employing one or more brokers who complete continuing education are statistically less likely to face enforcement actions. Over a 6-year period of analysis, the primary estimate of the net costs totals $34,158,014 see Table 25. Using a discount rate of three percent, annualized costs total $5,680,959 see Table 26.
TABLE 25PRIMARY ESTIMATE OF NET COSTS
2021 U.S. Dollars Year
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2021
2022
2023
2024
2025
2026
Benefits
Costs
Net costs 83
$331,467
331,467
331,467
331,467
331,467
331,467
$5,761,078
5,742,089
5,742,089
6,313,179
6,294,190
6,294,190
$5,429,611
5,410,622
5,410,622
5,981,713
5,962,723
5,962,723
Total
1,988,800
36,146,814
34,158,014
82 Penalties are a transfer payment from the broker to CBP that do not affect total resources available to society. Accordingly, CBP does not include penalties or penalties avoided in the final accounting of costs and benefits this rule. In addition, penalties are an enforcement tool that are intended to bring a noncompliant party in line with
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existing requirements. Any costs and benefits that result from compliance with the underlying requirement are included in the analysis, but not the enforcement mechanism. In the same way, if a rule results in the seizure of illegal merchandise, CBP does not include the cost of the lost merchandise to the importers.
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83 Note that we only include costs of remaining compliant with the proposed rule in the net costs.
Similarly, we do not include penalties avoided in the final accounting of benefits.
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