On Wednesday, Rep. Mark Meadows (R-NC) introduced the “Lessening Regulatory Costs and Establishing a Federal Regulatory Budget Act”—a bill that would mark a substantial legislative shift toward enacting President Trump’s agenda of reducing the size and scope of government.
In January of this year, shortly after his inauguration, President Trump signed Executive Order 13771, titled “Reducing Regulation and Controlling Regulatory Costs.” The order directs agencies to repeal two existing regulations for each new significant regulation, and to do so in such a way that the total cost of regulations does not increase.
Rep. Meadows’ bill would codify the President’s directive into law. It would establish a system for easing out-of-date regulations off the books and requiring agencies to pursue smarter, more efficient regulatory action.
“This bill would be a significant step in reining in the out-of-control regulatory state in Washington and would yield lasting benefits to the operations of the Federal government and to the American people,” Rep. Meadows said. “By requiring agencies to remove more and more out-of-date and unnecessary regulations, we will not only shrink the size of government, but also force agencies to regulate more efficiently and effectively. Furthermore, the bill will play a critical role in jumpstarting our economy, as it encourages agencies to find savings before issuing new regulatory costs.