Regulatory Reform Results for Fiscal Year 2018
In Regulatory Reform under Executive Order 13771: Final Accounting for Fiscal Year 2018, the Office of Information and Regulatory Affairs compiles the regulatory reform results from fiscal year 2018. President Trump emphasized the importance of reducing regulatory burdens and directed agencies to eliminate two regulations for each new one and to cap their total incremental costs in Executive Order 13771 ("Reducing Regulation and Controlling Regulatory Costs," January 30, 2017). Agencies have focused on comprehensive and common-sense regulatory reform, protecting health and safety while eliminating unnecessary costs. These reforms adhere to the longstanding principles and good regulatory practices in Executive Order 12866 ("Regulatory Planning and Review," September 30, 1993), which highlights that "the private sector and private markets are the best engine for economic growth."
Agencies accelerated the pace of regulatory reform in fiscal year 2018.
- Eliminated $23 billion in overall regulatory costs across the government.
- 12-to-1: Agencies issued 176 deregulatory actions and 14 significant regulatory actions.
- 57 deregulatory actions were significant. Comparing significant deregulatory to significant regulatory actions yields a ratio of 4 to 1.
- For a full statement of these results see Regulatory Reform under Executive Order 13771: Final Accounting for Fiscal Year 2018.
Projected Cost Savings for Fiscal Year 2019
As part of the effort to continue reducing unnecessary and ineffective regulatory burdens, agencies have worked with OIRA to identify a regulatory cost allowance or budget for fiscal year 2019. These cost allowances are informed by each agency's submissions for the Fall 2018 Regulatory Plan and Unified Agenda of Regulatory and Deregulatory Actions and incorporate regulatory actions required by law.
In fiscal year 2019, agencies anticipate saving a total of $18 billion in regulatory costs from final rulemakings. This does not include one of the most significant deregulatory rules anticipated in fiscal year 2019, "The Safer Affordable Fuel-Efficient (SAFE) Vehicles Rule for Model Years 2021-2026 Passenger Cars and Light Trucks," which the proposed rule estimates will save between $120 and $340 billion in regulatory costs.
Regulatory Reform: Regulatory Budget for Fiscal Year 2019 provides a list of cost caps by agency.
In order to calculate regulatory costs and cost savings for purposes of EO 13771, OIRA and the agencies have established consistent accounting standards, explained in further detail in Accounting Methods under Executive Order 13771.
Regulatory Reform Reports from Previous Fiscal Years
Fiscal Year 2017