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34 Yale L. & Pol'y Rev. 1 (2015-2016)

handle is hein.journals/yalpr34 and id is 1 raw text is: YALE LAW & POLICY REVIEW Inflation-Based Adjustments in Federal Civil Monetary Penalties James Ming Chen* INTRODUCTION ...................................................................2 I. ADJUSTING CIVIL PENALTIES UNDER THE INFLATION ADJUSTMENT ACT ..........................................................................5 II. THE LEGISLATIVE HISTORY OF THE INFLATION ADJUSTMENT ACT................8 A. Senate Bill 2559 (1986) .................... ....................9 B. Senate Bill 1014 (1987)................................................... 12 i. Hearings on Senate Bill 1014 (1988) .........................13 2. Amendments to Senate Bill 1014................. ..................16 C. Senate Bill 535 (1989) .............................. ......................16 D. Legislative Developments After 1990 ..................................... 17 III. PROBLEMS CREATED BY THE MECHANICS OF THE INFLATION ADJUSTMENT ACT...........................................................19 A. The Inflation Gap ........................ .............19 B. CPI Lag ............................................... 22 C. Rounding.............................................24 D. Regulatory Self-Help ......................... ...........26 * Justin Smith Morrill Chair in Law, Michigan State University; Of Counsel, Technology Law Group of Washington, D.C. This article is based on research that I conducted on behalf of the Administrative Conference of the United States (ACUS), which led to the adoption of Recommendation 2012-8 by ACUS on December 7, 2012. See Admin. Conference of the U.S., Recommendation 2012-8, 78 Fed. Reg. 2929, 2943-45 (Jan. 15, 2013). That recommendation, my original report, and other materials are available at https://www.acus.gov/research- projects/inflation-adjustment-civil-penalties. I thank Christian Diego Alcocer Argilello, Mathew Bisanz, Jennifer Hendricks, and L. Joseph Tackett for very capable research assistance. Curtis Copeland, David Pritzker, and Stephanie Tatham provided very helpful commentary. Special thanks to Heather Elaine Worland Chen.

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