The Trump administration says it is moving forward with its aggressive plans to shred government rules and regulations.

The White House on Wednesday released its first official report on its rollback efforts, claiming that during President Trump’s first five months in office it had brought about savings for the economy rather than impose regulatory costs. As a comparison, the report said President Obama’s agencies accrued $3.1 billion in regulatory costs during the same period at the start of his administration. The administration also said it was ahead of schedule in implementing President Trump’s pledge to eliminate two regulations for each new one on the books.

The report shows how the administration is trying to follow through on a campaign pledge by Mr. Trump to broadly reduce regulation and reverse rules put in place under his predecessor.

“The administration is really beginning fundamental regulatory reform,” said Neomi Rao, who was confirmed last week as the administrator of the White House’s Office of Information and Regulatory Affairs, a position that puts her at the center of the administration’s regulatory overhaul.