TRUMP Vs. REGULATIONS - Signs Executive Order To Bring Jobs Back To USA & Reduce Reg

TRUMP -vs- REGULATIONS - Signs Executive Order To Bring Jobs Back To USA & Reduce Reg

President Trump took another step Friday to roll back government red tape, signing an executive order requiring every federal agency to form a “regulatory reform task force” that would root out regulations for repeal.

A day after chief strategist Steve Bannon vowed a "deconstruction of the administrative state," Trump directed each agency's task force to evaluate existing rules and identify which ones should be modified or sent to the chopping block.

Joined in the Oval Office by business executives, Trump said "unnecessary” and “burdensome" regulations are and “driving companies out of our country like never before."

Those regulations, according to the White House, will be a focus of the new task forces.

Trump said reducing the regulatory burden will “unleash economic activity.”

Trump signed the order after delivering a rousing address to party faithful at the nearby Conservative Political Action Conference. The order builds on previous directives to find two regulations to cut for every new one proposed, and to freeze pending regulations.

While the latest measure takes this a step further, stripping existing regulations could ultimately require congressional involvement.

Trump's new order calls for each task force to document and report their progress toward meeting the president’s directives.

In the first 30 days of his term, Trump has overseen a considerable slowdown in regulations, according to an analysis by The Hill. There has been a 72 percent decline in regulatory activity during the first month of the Trump administration compared with the last two months of then-President Barack Obama’s term.

Trump also has signed several bills passed by Congress aimed at specific regulations. They include a resolution to mitigate the harm done to the coal industry by the Stream Protection Rule, and another measure to eliminate a reporting regulation that Republicans argue placed American mining and energy companies and their employees at an unfair disadvantage because their foreign competitors do not have similar requirements.

According to the White House, the Obama administration finalized more than 3,000 regulations that cost American taxpayers $873 billion. Speaking Thursday at the annual CPAC, White House Chief of Staff Reince Priebus TRUMP USA America U.S. "United States" Jobs Employment manufacturing "made in usa" regulation corporate corporation CEO benefits plan plans company tax "corporate tax" . Trump signed the directive in the Oval Office with chief executives of major U.S. corporations standing behind him including Dow Chemical Co (DOW.N), Lockheed Martin Corp (LMT.N) and U.S. Steel Corp (X.N).

The sweeping order directs every federal agency to establish a task force to ensure each has a team to research all regulations and take aim at those deemed burdensome to the U.S. economy and designate regulatory reform officers within 60 days and must report on the progress within 90 days. U.S. Chamber of Commerce senior vice president Neil Bradley praised the Trump administration for "tackling the regulatory state head on.... We look forward to working with the federal agencies to help identify rules that harm the economy and threaten jobs."

The order Trump signed in January sets an annual cap on the cost of new regulations but does not apply to most financial reform rules introduced by the Obama administration.

The Trump administration also ordered a freeze on regulations pending review and has stopped some regulations from taking effect.

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