White House releases new executive order on regulations

President Trump today released a new executive order calling for every new regulation issued to be offset with the elimination of two prior regulations.

Additionally, the order notes the importance of ensuring "the cost of planned regulations be prudently managed and controlled through a budgeting process."

The executive order requires that whenever a department or agency publicly proposes a new regulation, it identifies two regulations for repeal. Additionally, the order instructs all agency heads to ensure the incremental cost of all new regulations finalized in fiscal 2017 not exceed zero.

According to a pool report following a briefing with administration officials, one senior administration official said the order "creates an actual cap of zero dollars for the remainder of [FY-17] of added regulatory costs, so any new regulatory burdens will have to be offset by other deregulatory policies."

While no existing regulation is revoked by the order, the pool report says, it creates a new process by which the government accounts for the cost of regulations.