President Trump is employing what you might call the “Mad Max: Beyond Thunderdome approach” — “Two men enter, one man leaves!” — to regulatory reform, except sort of in reverse. If a new regulation is to enter the regulatory code, two must leave. Following through on a campaign pledge, Trump today signed an executive order requiring, as Reuters puts it, “that for every new federal regulation proposed, two must be revoked.”
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Of course, it’s not quite that straightforward. The actual executive order makes it clear we’re as much talking about regulatory costs as the individual regulations themselves. One objective is to cap regulatory costs. So the costs from a new regulation must be “offset by the elimination of existing costs associated with at least two prior regulations.” Some other countries employ a similar approach, including the UK and Canada. (I recall, however, that one or more exempt health and safety regulations for the directive. Not sure the US version will.)
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Trump’s ‘one in, two out’ regulatory reform idea could be good for economic growth https://t.co/Z1OUkUP2In
— James Pethokoukis (@JimPethokoukis) January 30, 2017
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