If you didn’t see it this week, the American Action Forum (AAF) released a report on regulatory reform with DOT leading the pack. The chart on the left shows that DOT is #1 in terms of the total number of deregulatory actions taken by any department, a total of 110 deregulatory actions and 30 regulatory.
Based on the Spring Agenda of (de)regulatory actions, compiled by the Office of Information and Regulatory Affairs (OIRA), the report found that DOT is #3 in terms of cost savings. Cost savings at DOT are anticipated to rise as we move through the President’s term. DOT in fact far exceeded its proposed budget of $35 million in savings-- with a year-to-date net savings of $166 million.
The AAF’s report puts the deregulatory-to-regulatory ratio across the government at 3.75 to 1, with the Administration having placed the federal government on course to double the cost savings that were projected for this fiscal year.
DOT is again at the forefront, with a ratio of 3.66 to 1, well ahead of the President’s ‘2 for 1’ deregulatory executive order. That ratio will rise when items to be published later in the fiscal year are included. Not only that, but DOT is currently exceeding estimated cost savings by an astounding 475%. DOT is committed to an effective, modern regulatory regime that serves the American people by keeping them safe and safeguarding taxpayer dollars.