Executive order

By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:

Section 1. Purpose. Federal regulations should not predetermine economic winners and losers. Yet some regulations operate to exclude new market entrants. Regulations that reduce competition, entrepreneurship, and innovation — as well as the benefits they create for American consumers — should be eliminated. This order commences the process for eliminating anti-competitive regulations to revitalize the American economy.

Sec. 2. Definitions. (a) “Agency” has the meaning given to it in section 3502 of title 44, United States Code, except that it does not include the Executive Office of the President or any components thereof.

(b) “Agency head” means the highest-ranking official of an agency, such as the Secretary, Administrator, Chairman, or Director, unless otherwise specified in this order.

Sec. 3. Rescinding Anti-Competitive Regulations. (a) Agency heads shall, in consultation with the Chairman of the Federal Trade Commission (Chairman) and the Attorney General, complete a review of all regulations subject to their rulemaking authority and identify those that:

(i) create, or facilitate the creation of, de facto or de jure monopolies;

(ii) create unnecessary barriers to entry for new market participants;

(iii) limit competition between competing entities or have the effect of limiting competition between competing entities;

(iv) create or facilitate licensure or accreditation requirements that unduly limit competition;

(v) unnecessarily burden the agency’s procurement processes, thereby limiting companies’ ability to compete for procurements; or

(vi) otherwise impose anti-competitive restraints or distortions on the operation of the free market.