President Donald Trump has signed an executive action aimed at cutting regulations, and said at a White House breakfast he wanted to “create an environment for small business.” The executive action requires government agencies requesting a new regulation to identify two that they will cut.
Trump had pledged during the election campaign to reduce the regulatory burden on small companies, AP reported.
“This will be the biggest such act that our country has ever seen,” Trump said Monday, according to Politico. “There will be regulation, there will be control, but it will be a normalized control where you can open your business and expand your business very easily. And that’s what our country has been all about.”
“If you have a regulation you want, No. 1, we’re not gonna approve it because it’s already been approved probably in 17 different forms,” the president added. “But if we do, the only way you have a chance is we have to knock out two regulations for every new regulation. So if there’s a new regulation, they have to knock out two.”
House Speaker Paul Ryan lauded the order on Monday.
