U.S. President Donald Trump signed an executive order on Monday requiring every agency that introduces a new regulation to repeal two previous ones.
“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, flanked by a group of small business owners.
The order is to prepare the White House for an annual cap on new regulations. For the rest of fiscal 2017, the cap will require that the cost of any additional regulations be completely offset by undoing existing rules.
Copyright Ulto Media Inc./Atlas News
By Caleb Mills