Senator Eric Schmitt, a Republican from Missouri, during a Senate Commerce, Science and Transportation Committee hearing in Washington, DC, US, on Thursday, Feb. 9, 2023.
If enacted, the bill would take the Trump EO a step further by prohibiting agencies from issuing a new major rule unless it has repealed three or more rules. It also requires the agency to count the cost of a new rule and only install it if the cost is less than or equal to the cost of the rules repealed, as certified by the Office of Information and Regulatory Affairs.
U.S. Senator Eric Schmitt speaks on the 1st day of Conservative Political Action Conference Washington, D.C.Schmitt claims that Trump's EO saved $733 million in regulation costs for small businesses, and notes that one of President Biden's first actions was to repeal that executive order. Overregulation from federal agencies has long been on the kill-list for conservatives who say these rules are particularly damaging to blue-collar businesses.