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On January 30, President Trump signed an Executive Order (EO) that combines two regulatory reform measures: a regulatory "one-in, two-out" approach with a regulatory “budget."
The "one-in, two-out" section of the order requires agencies to remove two rules for every new one they publish. The regulatory budget would allow the president to cap regulations at a certain dollar amount per year. If agencies want to issue new rules, they would be required to offset the costs by deleting old ones.
While the EO requires federal regulatory agencies to follow this approach, it provides significant discretion to the Director of the Office of Management and Budget (OMB) to flesh out procedures for implementation and monitoring.
This Executive Order could have important implications for regulations that impact the real estate sector. NAR will continue to monitor and provide input as the details of this EO are refined and released.