Reducing Regulation and Controlling Regulatory Costs
Headline: Federal Agencies Must Repeal Two Rules for Each New Regulation
What it does: Agencies must identify two prior regulations to repeal for each new regulation and keep net regulatory costs at or below zero.
- Requires agencies to repeal existing rules when issuing new regulations.
- Limits total new regulatory costs for fiscal year 2017 to zero unless waived.
- Creates reporting and budgeting duties to estimate and track rule costs.
Summary
This order requires federal agencies to control regulatory costs by eliminating older rules when issuing new ones. For every new regulation, agencies must identify at least two prior regulations to repeal, and for fiscal year 2017 total incremental costs of new rules must be no greater than zero unless law or the Director of the Office of Management and Budget allows otherwise.
Agencies must report estimated costs and savings to the Office of Management and Budget starting with the 2018 regulatory plans, include rules on the Unified Regulatory Agenda, and follow the Director's guidance on measuring costs.
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