SURPASSING GOALS FOR FY 2017: The Trump Administration has far exceeded its promise to eliminate regulations at a 2:1 ratio and impose no lifetime net regulatory costs.
- Agencies have issued 22 deregulatory actions for every one new regulatory action.
- This 22:1 ratio far exceeds President Trump’s promise to eliminate two rules for every one new rule.
- In total, agencies issued 67 deregulatory actions while imposing only three new regulatory actions.
- Federal agencies achieved $8.1 billion in lifetime net regulatory cost savings, the equivalent of $570 million per year.
- These savings go beyond the Administration’s goal of imposing no lifetime net regulatory costs in FY 2017.
- In contrast, the previous administration imposed between $5.7 billion and $15.2 billion in annualized regulatory costs in its final eight months in office.
EVEN GREATER SAVINGS IN 2018: The Trump Administration is committed to producing even greater regulatory cost savings in FY 2018.
- Federal agencies are committed to cutting more than $9.8 billion in lifetime costs for regulations finalized in FY 2018.
- This $9.8 billion in savings would amount to $686.6 million per year.
REGULATORY PLAN FOR FY 2018: Today, the Trump Administration is releasing its first full Regulatory Plan and Unified Agenda of Regulatory and Deregulatory Actions.
- The Regulatory Plan and Unified Agenda of Regulatory and Deregulatory Actions gives a detailed look at the Administration’s plan to continue rolling back regulations.
- Agencies plan on achieving even more regulatory rollbacks in FY 2018 compared with FY 2017, and plan to issue at least three deregulatory actions for every one new regulation.
- In this Administration, agencies have withdrawn or delayed 1,579 planned regulatory actions.
- 635 regulations were withdrawn.
- 244 regulations were made inactive.
- 700 regulations were delayed.
- For the first time, the Federal regulatory database will identify whether regulations are anticipated to be net regulatory or deregulatory.
- Reginfo.gov will now provide a list of inactive regulatory actions, not released in previous administrations.