By Nick Goldstein, vice president of regulatory and legal issues, ARTBA
President Donald Trump May 19 signed an executive order that directs all federal agencies to use maximum effort to eliminate regulatory barriers that could slow recovery of the U.S. economy from its pandemic-induced slump.
The “Regulatory Relief to Support Economic Recovery” order says “agencies should address this economic emergency by rescinding, modifying, waiving, or providing exemptions from regulations and other requirements that may inhibit economic recovery, consistent with applicable law and with protection of the public health and safety, with national and homeland security, and with budgetary priorities and operational feasibility.”
The order also makes several significant changes to regulatory policy, including:
- Directing all agencies to consider adopting a “good faith” standard for regulatory enforcement actions;
- Stating that non-adherence to agency guidance should not be the sole reason for an agency enforcement action;
- Shifting the burden of proof to the government for regulatory compliance; subjects of enforcement actions would not “bear the burden” of proving compliance; and
- Affording subjects of any enforcement action an opportunity to respond before any enforcement action.
Individual agencies are likely to implement the order in different ways. The Office of Management and Budget will monitor compliance and issue additional details.
As agencies begin to implement the order, ARTBA will continue its ongoing dialogue with the Trump administration about deregulation. Please contact me with your ideas about how current regulations are impeding your business and our nation’s economic recovery from the pandemic.
(File photo of President Trump.)