Howard Shelanski, administrator of the White House Office of Information and Regulatory Affairs, has said retrospective reviews of existing regulations have resulted in cost savings of approximately $37 billion over five years.
Shelanki wrote in a White House blog post published Wednesday President Barack Obama launched the retrospective review program in 2011 in an effort to revise and remove duplicative regulations and reduce regulatory burden for businesses as well as state and local governments.
Agencies have also completed at least 800 retrospective review initiatives that include the Labor Department’s efforts to revise its existing sex discrimination guidelines for employees of government contractors and subcontractors, he said.
Shelanski also cited that agencies have eliminated from the books over 70 regulatory provisions, a move that is expected to result in $270 million in savings over five years.
The White House predicts a final rule issued by the Transportation Department to generate approximately $8.9 billion in savings and reduce more than 40 million hours in paperwork over five years, he added.
Shelanski said DOT’s final rule seeks to revoke a requirement for drivers of commercial motor vehicles to submit reports of vehicle inspections despite the lack of any vehicle deficiencies.