“A requirement that for every new federal regulation, two existing regulations must be eliminated.”
Update: President Trump Signs An Executive Order Requiring That For Every New Regulation, Two Regulations Must Be Cut
Date: January 30th, 2017
“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.”
“President Trump on Monday signed an executive order to significantly reduce the amount of federal regulations on U.S. businesses.
The order attempts to fulfill Trump’s “one in-two out” campaign promise — to rescind two regulations for every one that he signs.
“We have to knock out a regulation for every two, but it goes far beyond that,” Trump said in signing the order, after meeting at the White House with a group of small business owners.”
” President Donald Trump on Monday signed an executive order requiring federal agencies requesting new regulations to cut two existing regulations.
The “one in, two out” plan is aimed at reducing regulatory burdens on the private sector, particularly small businesses. Government agencies must self-identify the regulations to cut, though the White House will ultimately decide what to nix.
“We’re cutting regulations massively for small business, and for large business. But they’re different,” Trump said while signing the order surrounded by small business leaders.
There is currently a temporary regulatory freeze that was issued by White House chief of staff Reince Priebus. But Monday’s directive sets a budget for new regulations, though the order does not apply to military or national security. There is also an exception to allow flexibility during emergencies.”
“President Donald Trump signed an executive order Monday morning requiring that for every new federal regulation implemented, two must be rescinded.
“This will be the biggest such act that our country has ever seen,” Trump declared moments before signing it inside the Oval Office. “There will be regulation, there will be control, but it will be a normalized control where you can open your business and expand your business very easily. And that’s what our country has been all about.”
The executive order signing, which fills a campaign pledge, comes after the president held a listening session with small-business leaders.
“If you have a regulation you want, number one, we’re not gonna approve it because it’s already been approved probably in 17 different forms,” Trump said. “But if we do, the only way you have a chance is we have to knock out two regulations for every new regulation. So if there’s a new regulation, they have to knock out two.”
The White House has yet to release text of the executive order, but the president added that “it goes far beyond that.”
“We’re cutting regulations massively for small business — and for large business,” he said. “But they’re different. But for small business, and that’s what this is about today.””