President Trump signs an executive action in the Oval Office of the White House on Monday in Washington, D.C., saying he will “dramatically” reduce small business regulations overall.
President Trump signed another executive order Monday morning, fulfilling another campaign pledge, this one to eliminate two federal regulations for every new regulation enacted.
Trump signed the order during an Oval Office photo op, saying, “We’re cutting regulations massively for small business and large business,” adding, “This will be the biggest such act our country has ever seen.”
The order stipulates:
“Unless prohibited by law, whenever an executive department or agency (agency) publicly proposes for notice and comment or otherwise promulgates a new regulation, it shall identify at least two existing regulations to be repealed.”
Trump said earlier Monday that he wants to eliminate “a little more than 75 percent” of the regulations now on the books. “We don’t need 97 different rules to take care of one element,” he said.