The executive order titled “Reducing Anti-Competitive Regulatory Barriers” aims to identify and remove anti-competitive regulations that may be hindering economic growth by limiting competition in the market. The order directs various agencies, including the Federal Trade Commission (FTC) and the Department of Justice (DOJ), to conduct reviews of their existing regulations and identify those that fall within certain categories. These include rules that create or facilitate de facto or de jure monopolies; limit competition between competing entities; burden procurement processes; or otherwise impose anti-competitive restraints or distortions on the operation of the free market.
The order also requires agencies to prioritize reviewing regulations that satisfy the definition of “significant regulatory action” in Executive Order 12866, as amended. Additionally, it directs agency heads to recommend rescission or modification for any rule identified as anti-competitive by design. The Chairman of the FTC and Attorney General are tasked with coordinating the review process and providing input on which regulations should be prioritized for removal or modification.
The order further requires the Chairman to issue a request for information seeking public input on the identification of regulations that fall within the categories specified in the order, as well as comments explaining any proposed classifications. Upon completion of the review process, the Chairman is required to provide a consolidated list of regulations that warrant rescission or modification based on their anti-competitive effects, along with recommended modifications to OMB Director for inclusion into the Unified Regulatory Agenda developed pursuant to Executive Order 14219.
Overall, this executive order aims to promote economic growth and competition by removing barriers that may be limiting the ability of businesses to operate in certain markets. However, it is also important to note that the order does not address all aspects of anti-competitive behavior and that further action may be needed to fully address this issue.
Read the full text of the order at the whitehouse.gov website.