Today President Trump signed an executive order that will require lawmakers to eliminate two regulations for every new regulation enacted by federal agencies.
The executive order will require federal agencies to propose two regulations that they want to drop in order to pass a new regulation.
Under the executive order, the budget for new regulations for the rest of the fiscal year is $0.
The Trump administration believes that the two-for one elimination of regulations will be a major boon for small businesses — including trucking.
Trump stated, “If you have a regulation you want, number one, we’re probably not going to approve it.‘
Trump also said this morning that he wants to eliminate “a little more than 75 percent” of the regulations currently on the books.
The text of the executive order has not yet been released and it is still unclear exactly how the two-for-one order will work.
Trump called the move “the largest cut by far, in terms of regulation” in history.
— ABC News Politics (@ABCPolitics) January 30, 2017