On January 30, 2017, President Trump issued an Executive Order on reducing and controlling regulatory costs. Here are the main elements of the new directive:
One, unless prohibited by law, whenever an executive department or agency publicly proposes for notice and comment or otherwise promulgates a new regulation, it shall identify at least two existing regulations to be repealed.
Two, agencies shall proceed in 2017 such that the total incremental cost of all new regulations, including repealed regulations, to be finalized this year shall be no greater than zero.
Three, any new incremental costs associated with new regulations shall be offset by the elimination of existing costs associated with at least two prior regulations.
Four, the Director of OMB shall provide the heads of agencies with guidance on the implementation of this Executive Order.
During the Presidential budget process, the Director of OMB shall identify to agencies a total amount of incremental costs that will be allowed for each agency in issuing new regulations and repealing regulations for the next fiscal year.