President Trump Signs Executive Order: Reducing Regulation and Controlling Regulatory Costs
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 Washington Post
Jim Tozzi, a former head of OMB’s Office of Information and Regulatory Affairs and now head of the nongovernmental Center for Regulatory Effectiveness, said that Trump’s proposal would require a lot of analytical work.
“It is not a trivial undertaking at all,” Tozzi said.