Description: The order mandates that for every new regulation issued, at least two prior regulations be identified for elimination. For fiscal 2017, heads of all agencies are directed that the total incremental cost of all new regulations, including the cost savings associated with eliminating the two prior regulations, must be no greater than zero—unless otherwise required by law or consistent with written advice of the director of the Office of Management and Budget.
Fair Economy Impact: President Trump’s “2-for-1” executive order requires federal agencies to assess whether a regulation is worthwhile based solely on costs – regardless of the benefits of the regulation. The executive order mentions costs 18 times, but never once mentions benefits. This emphasis on costs threatens regulations that protect workers, consumers, and the environment. Compliance with rules is part of the overall cost of conducting business in a way that doesn’t cause harm to workers and the environment. Rules that, for example, prevent workplace injuries provide great benefits to workers who would otherwise bear the costs of injury, through emergency room visits, medical bills, and absence from work.
- Issued January 30, 2017