Believe it or not Canada, that’s right Canada, started this red tape cutting trend. We posted about Canada’s so called “1 for 1” regulation scheme in the spring of 2015. The law stated that for any new reg implemented an old reg had to be repealed.
Our readers loved the idea. But some readers said that a “1 for 1” deal didn’t take things far enough. Apparently President Trump agrees with them.
Again small government people, Trump is a complicated jumble of wins and losses for us. This one’s a solid win. We’ll take it.The economy needs to be unleashed.
For the record this was my video on the subject.
President Trump has signed an executive action to revoke two regulations for every one enacted, or as officials told AP, that they are naming the new directive a “one in, two out” plan. Federal agencies will need to revoke two regulations for every new regulation they request, and the White House will review the proposal, according to administration officials.
The order sets a budget of $0 for new regulations in 2017 and the administration will set a regulation budget each year, the official said on customary condition of anonymity. Military and national security regulations are exempt.
“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,” Trump said as he signed the order in the Oval Office, surrounded by a group of small business owners.