On January 30, 2017, President Donald Trump issued an executive order to reduce the number of federal regulations and establish a process for the White House to set an annual cap on the cost of new regulations. For Fiscal Year 2017 (FY 2017), the order requires that for each new rule proposed or finalized, the agency must identify at least two existing regulations to be repealed. There also may be no net increase in costs for the regulations promulgated and repealed in 2017. For FY 2018 and subsequent years, the Director of the Office of Management and Budget (OMB) will set a cap for each agency on the total net increase in costs for new and repealed regulations, or it may require a reduction in net costs. Thus, for each new regulation an agency identifies in its Regulatory Plan that would increase costs, it must identify at least two regulations it would repeal to offset the costs.
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