ACPA participated in a briefing at the U.S. Department of Transportation earlier this month to hear more about the agency’s role in the Trump Administration’s initiative to reduce burdensome regulations.
During the briefing, the agency’s Deputy Secretary Jeffrey Rosen and Deputy General Counsel James Owens informed stakeholders on the agency’s efforts to reduce regulatory burdens. The officials also used the event to announce a formal Notification of Regulatory Review at the DOT. This notice encourages the public to comment on proposed regulatory changes. To view the information or submit comments, please follow this link.
Owens noted that rising regulatory burdens may have slowed gross domestic product (GDP) by an average of 0.8 percent since 1980. “Many regulations are well intentioned, but create harmful economic consequences for the economy and restrict transactions among Americans,” he said. He added GDP could be as much as 20% greater if the regulatory burden was still at 1980 levels.
The Administration’s regulatory reform principles aim to: reduce regulatory burdens; regulate effectively and efficiently; promote due process; provide fair notice; and respect individual liberty and property rights, according to the presentation.
The initiative began with the President signing Executive Order 13771 on January 30, and since then the Administration has made significant progress on reducing regulations. At the DOT, as with other federal agencies, the Executive Order is aimed at eliminating two regulations for every one introduced and eliminating regulatory costs, which will have a net savings for the public. Along with a regulatory reform task force, agencies will have a regulatory reform officer, a role filled by Deputy Secretary Rosen at DOT.
Other key goals are to “unleash the economy and leave space for innovation,” according to the presentation. ACPA’s Leif Wathne participated in the briefing on behalf of association members. Although anecdotal, the effects of regulatory reduction are already being observed by some ACPA members. ACPA TODAY will continue to report news on this topic.
Sources: NPR report: http://www.npr.org/2017/02/24/517059327/trump-orders-agencies-to-reduce-regulations and independent reporting.