The White House announced on February 24 that the President has signed an Executive Order requiring every agency to establish a Regulatory Reform Task Force to eliminate red tape. Under the E.O.:
- Each Regulatory Reform Task Force will evaluate existing regulations and identify candidates for repeal or modification.
- Each agency’s Task Force will focus on eliminating costly and unnecessary regulations.
- To hold the Task Forces accountable, agencies will measure and report progress in achieving the President’s directives.
The President’s stated rationale for the E.O. was that the growth of regulations has been unchecked and costly the American economy. The White House’s press release underscored its "commitment to reducing the regulatory burden on everyday Americans, their pocketbooks, and their businesses." "Excessive regulations are killing jobs, driving companies out of our country like never before," the President said.
"This executive order is one of many ways we’re going to get real results when it comes to removing job killing regulations and increasing economic opportunity," Trump continued. "We will stop punishing companies for doing business in the United States. It’s going to be absolutely just the opposite. They’re going to be incentivized to do business in the United States."
Press pool reports noted that standing behind the President while he signed the E.O. were a dozen or more CEOs from blue chip companies including 3M, Lockheed-Martin, Dow Chemical, and Archer Daniels Midland.
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