2.2 Reduce and Streamline Regulations
Why is reducing and streamlining regulations important?
Unnecessary regulations increase the cost of doing business. Increased costs make U.S. products and services more expensive and less competitive. Ultimately, red tape and regulations that add burden and expense without adding much value take jobs out of the economy. By streamlining regulatory processes, businesses are more likely to enter markets and successfully compete in the global economy.
Strategic Objective 2.2 Progress Update
Since the President's Management Agenda was released in 2018, the Department of Commerce has produced a total cost savings of over $45 million from deregulatory actions. Throughout the year, the Department's Regulatory Reform Officer works closely with the heads of bureaus to identify potential deregulatory actions and feasible timelines for completion. For example, NOAA made significant progress reducing the time required for Endangered Species Act consultations. Reviews that took 122 days in 2016 took 45 days in 2018. As part of the Department's efforts to promote Space Commerce, rules affecting business expansion in the space industry will be reviewed for opportunities to streamline.
Number of deregulatory actions issued
Deregulatory actions were issued by the Department of Commerce have steadily increased during the past three years. During 2019, 18 deregulatory actions were issued by the Department, below year's "stretch" target of 33.
Cost savings from Department of Commerce deregulatory actions exceeded the 2018 target
The deregulatory actions implemented by the Department of Commerce facilitated $49.8 million in savings. The Department of Commerce will build on that success to save businesses and consumers millions more dollars per year.
Commerce Regulatory Reform Under Executive Order 13771
Executive Order 13771 emphasizes the importance of reducing regulatory burdens and directed agencies to eliminate two regulations for each new one and to cap their total incremental costs. Agencies have focused on comprehensive and common-sense regulatory reform, protecting health and safety while eliminating unnecessary costs. Reforms adhere to the longstanding principles and good regulatory practices which highlight that "the private sector and private markets and the best engine for economic growth."
Additional information on Federal Government regulatory reform efforts is available on the https://www.reginfo.gov website
I want to know more...
WhiteHouse.gov - An outline of some of the measures the federal government is taking to streamline regulatory processes
Performance.gov - Updates on Department of Commerce's efforts to facilitate sustainable economic growth
Commerce.gov - Information on the Secretary of Commerce's commitment to remove unnecessary regulations