Last week, President Barack Obama signed an Executive Order that directs Federal agencies to "ensure regulations protect our safety, health and environment while promoting economic growth." When it comes to matters of regulatory policy, the goal of President Obama's administration for the past two years has been "to strike the right balance" according to an Op-Ed piece in the Wall Street Journal written by the President. The order also directs a review of federal rulebooks to rid them of outdated agency regulations that are making our economy less competitive, which President Obama stated would help to ensure that we "avoid excessive, inconsistent, and redundant regulation."
There has been a very positive reaction to the order from both sides of the aisle. House Minority Whip Steny Hoyer (D-MD) described the order as a "positive step" and believes that Republicans and Democrats will be able to work together on the issue. House Oversight and Government Reform Chairman Darrell Issa (R-CA) has made it known that his Committee will exercise its power to investigate government agencies that are believed to have overstepped their bounds through rulemaking and has applauded the announcement of the administration's executive order.