President Donald Trump's latest executive order seeks to reduce the burden of federal regulations for businesses, and would achieve this by two parallel policies.
For every new regulation an agency issues, it will have to identify at least two others that it will repeal.
At the same time, any new regulations that an agency finalizes this year will have to have an incremental cost of zero.
The President signed the EO Jan. 30, making it his second action trying to rein in the regulatory process. Trump also issued a memo on Jan. 20 freezing the regulatory process pending reviews by new administration officials.
Mark Sandy, the acting director of the Office of Management and Budget, issued implementation guidance on Jan. 24, postponing the effective dates of proposed regulations for at least 60 days.
The executive order goes even further than the freeze and review.
A senior administration official said during a background briefing with White House reporters that the order is "most significant administrative action in the world of regulatory reform since President [Ronald] Reagan created OIRA [Office of Information and Regulatory Affairs] in 1981."
The officials say agencies will identify the regulatory targets for proposed elimination under their jurisdiction, and OMB will have the final say.
Asked during the briefing if the public would be able to view or see the bundling of the two regulations being erased by departments through the rulemaking process, together with a new one proposed and bundled with the other two, one official said, "that's the intention."
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