Trump signs executive order to slash regulations

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By Ayesha Rascoe

<span class="articleLocation”>President Donald Trump signed an order on Monday
that will seek to dramatically pare back federal regulations by
requiring agencies to cut two existing regulations for every new
rule introduced.

“This will be the biggest such act that our country has ever
seen. There will be regulation, there will be control, but it
will be normalized control,” Trump said as he signed the order
in the Oval Office, surrounded by a group of small business
owners.

Trump’s latest executive action will prepare a process for
the White House to set an annual cap on the cost of new
regulations, a senior official told reporters ahead of the
signing.

For the rest of fiscal 2017, the cap will require that the
cost of any additional regulations be completely offset by
undoing existing rules, the official said on customary condition
of anonymity.

Trump, a businessman turned politician, campaigned on a
promise to reduce federal regulations that he said burdened
American businesses.

Major regulations are typically reviewed by the White
House’s Office of Management and Budget (OMB) before they are
issued. That review will continue under this new measure, but
agencies will also have to identify what two regulations will be
repealed to offset the costs of any new rule.

The new order does not require that the repeal of the two
regulations be done simultaneously with the release of
additional rules, the official said.

“This vests tremendous power and responsibility in the OMB
director to ensure the president’s direction in how we manage
this across the government,” the official said.

Certain categories of regulations will be exempt from this
new policy, including those dealing with the military and
national security. The OMB director will also have the ability
to waive this policy in certain instances.

Trump has tapped U.S. Representative Mick Mulvaney of South
Carolina to lead the OMB.



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