Summary
Tells government groups to find and get rid of rules that make it hard for new businesses to compete, which can help the economy grow.
What problem does this solve?
Some government rules unfairly help certain businesses and stop new ones from starting, which hurts the economy and customers. This order makes government groups review their rules and remove the ones that block fair competition.
Who does this affect?
- Businesses
- Federal Agencies
- Consumers
What does this order do?
Requires agencies to review all regulations
Orders the heads of government agencies to check all their rules to find any that unfairly limit business competition.
Defines what makes a rule anti-competitive
Identifies harmful rules as those that create monopolies, block new companies from entering a market, or limit competition in other ways.
Sets a deadline for agency reports
Gives agency heads 70 days to send a list of bad rules to the Federal Trade Commission and the Attorney General, with suggestions on whether to remove or change them.
Asks for public help
Requires the Federal Trade Commission to ask the public for their thoughts on which government rules are hurting competition.
Creates a final list for action
Directs the Federal Trade Commission to create a final list of regulations to be removed or changed and send it to the Office of Management and Budget for a decision.
What is the real world impact?
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Promotes a more competitive economy
Aims to help new businesses start and grow by removing unfair government rules. This can lead to more choices and better prices for everyone.
When does this start?
This order sets several deadlines for agencies to review and report on regulations.
Request for public input
Within 10 days of the order, the Chairman of the Federal Trade Commission must ask the public for help finding anti-competitive rules.
Public comment period closes
The public has 40 days to submit their comments on which regulations should be reviewed.
Agency reports due
Within 70 days of the order, agency heads must provide their lists of anti-competitive regulations.
Consolidated list due to OMB
Within 90 days of receiving agency lists, the FTC Chairman must provide a final list of regulations to the Director of the Office of Management and Budget.