Archive for January, 2017
Editor’s Note: After thirty seven years we finally have a regulatory budget!
President Trump’s Executive Order on Reducing Regulation and Controlling Regulatory Costs is attached here. Below is an excerpt.
Sec. 3. Annual Regulatory Cost Submissions to the Office of Management and Budget.
(d) During the Presidential budget process, the Director 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. No regulations exceeding the agency’s total incremental cost allowance will be permitted in that fiscal year, unless required by law or approved in writing by the Director. The total incremental cost allowance may allow an increase or require a reduction in total regulatory cost.
From: The Daily Signal
“My very distinct impression, from working with the transition team, is that regulatory reform is going to be an absolute priority for this president,” Mulvaney said. “In fact, I think you saw him mention yesterday that he wants to cut 75 percent of the regulations. He is absolutely dead serious about this.”
Mulvaney expressed confidence in the dedication to reforming regulation, stating that he believes Trump to be “the first person to campaign for president on regulatory reform since Ronald Reagan.”
Editor’s Note: CRE maintains a library of crucial regulatory documents from the Johnson through Trump Administrations. See the OMB Papers.
From: The Hill
By Tim Devaney
The White House regulations website was down Monday, and a number of reports on the costs and benefits of regulations from the Office of Management and Budget (OMB) had disappeared.
Those OMB reports on the costs and benefits of regulations can still be found on another government website that archives Obama-era documents. But they are not available on the primary White House website, where they are usually stored.
Donald Trump isn’t shy to tout his distaste of regulations.
Since he kicked off his presidential campaign in June 2015, Trump has derided Obama-era financial regulations as “bad for business” and responsible for America’s slow-growing economy.
He even promised to eliminate two regulations for every one enacted during his tenure as president.
Most Wall Streeters view Trump’s anti-regulatory stance as a tailwind for the financial services industry.