Unleashing Prosperity Through Deregulation

This document is an executive order titled Unleashing Prosperity Through Deregulation, signed by President Donald J. Trump and effective shortly after January 31, 2025. It creates a broad, top-down framework to reduce federal regulatory burdens by tying new regulations to mandatory repeal of existing ones. For every new regulation proposed, agencies must identify at least 10 existing regulations to repeal; the order also sets a fiscal goal for FY2025 of generating net negative regulatory costs (i.e., cost savings) despite new rules. It tightens cost-accounting and reporting, requiring agencies to incorporate regulatory costs and offsets into planning documents and to obtain Director-level approval for rules not listed in the Unified Regulatory Agenda. The order redefines “regulation” to include a wide range of non-traditional policy documents, while carving out several exemptions (notably for national security, military, foreign affairs, or internal agency issues) and giving the Director authority to grant additional exemptions. It also revives older regulatory analysis tools and agreements (reinstating OMB Circular A-4 from 2003 and a 2018 tax regulation review MOA) to align with its deregulation push. In short, it centralizes cost-offset-driven deregulation across federal agencies with a strong emphasis on the Office of Management and Budget’s oversight.