President Trump launched into his second full week by signing a new Executive Order aimed at cutting the regulatory burden faced by small businesses. Basically, if a federal agency wants to impose any new regulations, it must first identify two other regulations it will eliminate.
As ABC reports:
President Donald Trump has signed an executive action aimed at significantly cutting regulations for small businesses.
The president was surrounded by small business leaders as he signed the order in the Oval Office Monday morning.
Trump says that the order is aimed at “cutting regulations massively for small business.”
…Earlier, White House officials called the directive a “one in, two out” plan. It requires government agencies requesting a new regulation to identify two regulations they will cut from their own departments.
Trump said that the EO will be “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 normalized control.”
The order also places an annual cap on the cost of any new regulations, and sets a $0 budget for new regulations in 2017.
MOMENTS AGO: President Trump signs new executive order cutting government regulations on small businesses https://t.co/8so2iQ5456 pic.twitter.com/STvXLfN3uh
— CBS News (@CBSNews) January 30, 2017
