Trump signs executive order intended to reduce regulations (US)

On January 30, 2017 President Trump signed an executive order that requires federal agencies to identify at least two existing regulations to be repealed when proposing or promulgating a new regulation. Additionally, for fiscal year 2017, which is currently in progress, the total incremental cost of all new regulations must not be greater than zero, unless otherwise required by law. More details on the exact implementation of the executive order have not been released. The Director of the Office of Management and Budget is to provide guidance on the executive order to agency heads, including standards for determining what qualifies as a new or offsetting regulation; processes for standardizing the measurement and estimation of regulatory costs; standards for determining the costs of existing regulations considered for elimination; processes for accounting for costs in different fiscal years; methods to oversee the issuance of rules with costs offset by savings at different times or different agencies; and emergencies and other circumstances that might justify waivers of the executive order.

Sources:

Executive Order Reducing Regulation and Controlling Regulatory Costs, January 30, 2017