New Executive Order Requires Elimination of 10 Regulations for Each New Regulation Issued
On January 31, President Trump signed an executive order aiming to significantly reduce federal regulations and foster economic growth. The requirements of the executive order include:
- When an agency promulgates a new rule, regulation, or guidance, it must identify at least 10 existing rules, regulations, or guidance documents to be repealed;
- Director of the Office of Management and Budget (OMB) will ensure standardized measurement and estimation of regulatory costs; and
- For fiscal year 2025, the total incremental cost of all new regulations, including repealed regulations, be significantly less than zero.