President Obama is committed to a regulatory approach that protects public safety and welfare while also promoting economic growth and job creation. In January 2011, the President issued a historic Executive Order, setting forth new cost-saving, burden-reducing requirements for federal regulations, and requiring an ambitious government-wide “lookback” at existing regulations. In response to that requirement, over two dozen agencies identified more than 500 reforms. Agencies have already proposed or finalized more than 100 of them.
On May 10, we announced a series of final rules that will save nearly $6 billion over the next five years. Other rules, now proposed or finalized, will produce billions of dollars in additional savings totaling upwards of $10 billion. Other rules, now proposed or finalized, will produce billions of dollars in additional savings, producing total savings in excess of $10 billion from just a small fraction of the reform initiatives.
Also on May10, the President institutionalized his regulatory lookback with an historic Executive Order requiring federal agencies to continue to scrutinize rules on the books to see if they really make sense. That Executive Order takes three new steps. To promote priority-setting, the Order requires agencies to identify reforms that will produce significant quantifiable savings, especially (but not only) for small business. To promote accountability, the Order requires agencies to report to the public regularly on their past efforts and their future plans — with details and deadlines. To promote public participation, the Order directs agencies to obtain public comments to see which rules should be simplified, improved or repealed.
Fonte: White House