If you read the headlines, America seems to be lurching from one crisis to another. But underneath the controversy, Donald Trump’s administration is undertaking far-reaching changes that will affect the lives of millions of Americans: they are rethinking the federal regulatory state.
Since taking office, the Trump administration has begun remaking the way rules and regulations on everything from stock trading to mining and food safety are implemented and evaluated. Their goal is to relieve the American people from the burden of unnecessary red tape. Thanks to these efforts, two regulations are being eliminated for every new one implemented and agencies are required to achieve a net reduction in total regulatory costs.
In April, the administration went further, giving new oversight powers to the Office of Information and Regulatory Affairs and Office of Management and Budget over all new proposed rules, including documents that provide guidance on how to implement them.