®: CRE Regulatory Action of the Week
White House Issues New Executive Order on Regulatory Impacts
On May 10, 2012, President Obama issued an executive order that requires federal agencies to assess the cumulative economic impacts of existing rules which are selected for review under the Administration's ongoing burden-reduction effort. The new executive order also requires federal agencies to prioritize reforms to reduce regulatory burdens. Also on May 10th, the White House Council of Economic Advisers (CEA) issued a report in conjunction with the executive order that urges federal agencies to include sunset provisions, safe harbors and other regulatory flexibilities in rules under development.