Daily Tax Update - February 6, 2017: OIRA Issues Interim Guidance for Implementing Section 2 of the Two-for-One Regulation Executive Order

OIRA Issues Interim Guidance for Implementing Section 2 of the Two-for-One Regulation Executive Order:  On February 2, the Office of Information and Regulatory Affairs (OIRA) issued a memorandum setting forth interim guidance for implementing Section 2 of the January 30 Executive Order titled “Reducing Regulation and Controlling Regulatory Costs.”  The guidance states that beginning immediately, for each significant regulatory action, agencies should 1) “identify two existing regulatory actions the agency plans to eliminate or propose for elimination on or before September 30, 2017” and 2) “[f]ully offset the total incremental cost of such new significant regulatory action as of September 30, 2017.”  

The memorandum includes a Q&A section.  In response to a question as to whether the Executive Order applies to new guidance or interpretive documents, the memorandum states that these types of guidance will be addressed on a case-by-case basis.  It also explains that in certain circumstances, regulatory and deregulatory actions can be bundled in the same regulatory action.  

This memorandum is a clarification of the Executive Order issued on January 30, which provides that, unless prohibited by law, whenever an executive department or agency publicly proposes for notice and comment or otherwise promulgates a new regulation, it must identify at least two existing regulations to be repealed.  For prior DTU coverage, please click here.