From: American Action Forum
After roughly two years in the regulatory process, the Department of Transportation has released its 392-page “Vehicle-to-Vehicle” (V2V) communications proposed rule. First released in the form of an advanced notice of proposed rulemaking in 2014, the proposed version made its way to the White House in January, where it waited for 331 days under review at the Office of Information and Regulatory Affairs (OIRA). Given the rulemaking’s possible effects on smart car innovation, billions of dollars in annual and costs and benefits, there are several reasons to understand its winding road to formal form this month.
Breakdown
- Annual Costs: $5 billion
- Annual Benefits: $71 billion
- Total Costs (in year 2060): $108 billion
- Paperwork: N/A
- Per Vehicle Cost Increases: $288
- Annual Lives Saved (in 2051): 1,321