The White House has released “interim guidance” on President Donald Trump’s executive order (EO) that requires agencies to remove two rules for every new one they publish. The regulatory budget would allow the president to cap regulations at a certain dollar amount per year. If budget agencies want to issue new rules, they would be required to offset the costs of deleting old ones. The interim guidance explains how the Office of Management and Budget will implement and monitor the EO.
The National Association of REALTORS® has released an issue brief analyzing this EO, concluding that while this EO may not have an immediate impact on reducing regulatory burden, it will be valuable in focusing attention on the regulatory costs to the U.S. economy. The EO will also force agencies to do a better job reviewing and measuring the success or failure of old regulations and encourage better cooperation between Congress and the federal regulatory agencies.
See the NAR issue brief, “Trump Administration Executive Order Strives to Reduce Regulation and Control Regulatory Costs”: click here.