Posted by David Oliver on 1/30/2017 to Politics and Economy
IncSmart District of Columbia (Small Business and Startups) - President Trump's latest executive order will begin the process to set an annual cap on the number of new regulations saving American business time and money. This cap will require that the addition of any new regulations be completely offset by removing existing regulations. These business regulations are reviewed by the White House's Office of Management and Budget (OMB) before they are issued. Now the OMB will also have to identify what two regulations will have to be removed when a new Regulation is added.
Mick Mulvaney of South Carolina to head the OMB.
An OMB memorandum explains three requirements specified in the Executive Order.
1 - Every agency must identify two existing regulations to be repealed when another regulation becomes law
2 - There can be no costs for any new regulations or for the repeal of any old regulations
3 - If there are any new costs, they will be offset by the elimination of the existing costs
By David Oliver
Starting a Business in Washington DC
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