Since day one, President Donald J. Trump has been cutting regulatory red tape in Washington in order to help the American people and increase efficiency. Costly regulations and job-stifling bureaucratic red tape have held back the American economy for far too long, and the President is committed to addressing this challenge directly.

On Friday, President Trump signed an Executive Order aimed at reforming Government regulation by requiring every agency to establish a Regulatory Reform Task Force to eliminate red tape.

Play 05:42 President Trump Signs an Executive Order President Trump Signs an Executive Order

Each Regulatory Reform Task Force will evaluate existing regulations and identify candidates for repeal or modification.

Each agency’s Task Force will focus on eliminating costly and unnecessary regulations.

To hold the Task Forces accountable, each agency will measure and report progress in achieving the President’s directives.

This action will address the unchecked regulations from past administrations that imposed a steep cost on the American economy. The regulations from the last Administration cost American taxpayers $873 billion. The Obama Administration alone finalized more than 3,000 regulations.

President Trump has been steadfast in his commitment to reducing the regulatory burden on everyday Americans; their pocketbooks, and their businesses. This new Executive Order builds on the President’s Actions, which include: