log in to manage your profile and account
- Create your account
- Receive up-to-date newsletters
- Set up text alerts
Published: Monday, January 30, 2017 @ 6:53 AM
President Donald Trump followed through on a campaign promise today to reduce federal regulations, as he signed an executive order that makes the Executive Branch get rid of two regulations for every new one that is put into effect, arguing it will reduce a major burden on small businesses in America.
"Should I sign it?" Mr. Trump asked playfully during a signing ceremony at the White House.
"That's a big one," he said.
"This will be the biggest such act that our country has ever seen," Mr. Trump said approvingly of his move.
Here is the text of today's Executive Order.
The plan not only includes to issue-one-remove-two rule on regulations, but also says that the cost of any new regulations issued this year must be no more than a net zero for businesses:
For supporters of the President, and Republicans in Congress, there may be no matter that unites them more than finding ways to reduce regulations by Uncle Sam.
"Radical regulations have done so much damage to our economy. We have to wind them back ASAP," said Rep. Steve Scalise (R-LA).
"Good," said Rep. Justin Amash (R-MI), who has not been on board with other executive actions by the new President.
For Democrats, the reaction was the exact opposite.
"You cannot swap and slash regulations on a quantitative basis," said Rep. Jamie Raskin (D-MD), who used Twitter to say that the President "has no clue" about how to deal with regulations.
"Arbitrary and irresponsible," said Rep Jared Huffman (D-CA), who grumbled that the plan "could have been conceived by a 10 year old."
This is not the only move on regulations this week in Washington, as the House will take the first votes on a broader GOP effort to do away with certain regulations from the Obama Administration.
On the schedule later this week, lawmakers will vote on GOP plans to:
+ Disapprove an Interior Department rule known as the "Stream Protection Rule"
+ Disapprove a rule from the Securities and Exchange Commission about "Disclosure of Payments by Resource Extraction Issuers"
+ Disapprove a Social Security Administration rule related to providing relevant documents to the National Instant Criminal Background Check System (for firearm purchases)
+ Disapproving a rule from NASA, the GSA and DOD, that relates to Federal Acquisition regulations.
+ Disapproving a rule from the Bureau of Land Management relating to "Waste Prevention, Production Subject to Royalties, and Resource Conservation"