U.S. President Donald Trump signed an executive order on Monday to dramatically cut federal regulations. Fred Katayama reports.
U.S. President Donald Trump signed an executive order to slash federal regulations. He said it "knocks out two regulations for every new regulation" adopted by federal agencies, calling it "the largest cut" in history. Trump added he rolled back the regulations with small businesses in mind. A senior official said Trump's latest executive action will prepare a process for the White House to set an annual cap on the cost of new regulations. For the rest of fiscal 2017, that cap would be $0. Trump, a businessman turned politician, campaigned on a promise to reduce federal regulations that, he said, burdened American companies.