The “Regulatory Relief to Support Economic Recovery” executive order intends to spur the post-pandemic economy by waiving agency regulations. “The virus has attacked our nation’s economy as well as its health,” states the White House announcement.
President Donald Trump issued an executive order this week that calls on agencies across the federal government to use emergency authority to remove regulations that may inhibit job creation and economic growth.
Since the onset of the coronavirus outbreak, regulations that stood in the way of addressing the health crisis have been relaxed. “Our states, Tribes, territories, local communities, health authorities, hospitals, doctors and nurses, manufacturers, and critical infrastructure workers have all performed heroic service on the front lines battling COVID-19,” states the May 19 White House announcement of the Executive Order.
Now the same approach will apply to spurring the post-pandemic economy.
The “Regulatory Relief to Support Economic Recovery” executive order empowers agencies to address the COVID-19 economic emergency by “rescinding, modifying, waiving, or providing exemptions” from regulations and other requirements that may hinder economic recovery. Meanwhile, agencies are directed to “determine which [rescisions, suspensions, modifications or waivers], if any, would promote economic recovery if made permanent.”
Pivotal to economic revival is empowering businesses, especially small businesses, to reopen by “providing guidance on what the law requires; by recognizing the efforts of businesses to comply with often-complex regulations in complicated and swiftly changing circumstances; and by committing to fairness in administrative enforcement and adjudication.”
With less regulatory red tape, more businesses can resume operations and create severely needed jobs. “Many businesses and nonprofits have been forced to close or lay off workers,” Trump said, “and in the last 8 weeks, the nation has seen more than 36 million new unemployment insurance claims.”
Economic recovery will require the efforts of not just the federal government, but every state, Tribe, territory, and locality; of businesses, non-profits, and houses of worship; and of the American people, the Trump Administration states. “To aid those efforts, agencies must continue to remove barriers to the greatest engine of economic prosperity the world has ever known: the innovation, initiative, and drive of the American people.”