Monday morning, President Donald Trump signed a new executive order that requires all executive branch agencies to rescind two regulations for each new regulation they wish to enact.
Upon signing the order, the president stated:
“This will be the biggest such act that our country has ever seen. There will be regulation, there will be control, but it will be a normalized control where you can open your business and expand your business very easily. And that’s what our country has been all about.
“If you have a regulation you want, No. 1, we’re not gonna approve it because it’s already been approved probably in 17 different forms. But if we do, the only way you have a chance is we have to knock out two regulations for every new regulation. So if there’s a new regulation, they have to knock out two.”
Trump had promised to curb government regulation during the 2016 presidential campaign. But this order goes beyond the regulations themselves, but also attacks the cost of enforcing them, stating that for the current fiscal year ending Sept. 30, the net cost of new regulations should be “zero.”
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