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| Trump always talks about how the Chinese are "winning" because they don't over-regulate like we do |
“This will be the biggest such act that our country has ever seen,” Trump declared moments before signing it in the Oval Office. “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.”
The executive order signing, which fulfills a campaign pledge, comes after the president held a listening session with small-business leaders.
“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,” Trump said. “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.”
The president added that “it goes far beyond that.” “We’re cutting regulations massively for small business — and for large business,” he said. “But they're different. But for small business, and that’s what this is about today.”
The executive order calls for agencies to pinpoint “at least two” current regulations to be repealed for each new proposed regulation. And it says the net incremental cost for fiscal 2017 should “be no greater than zero,” meaning the cost of new regulations should be offset by existing rules that will be rescinded.