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The Wagner Law Group

The Wagner Law Group is a nationally recognized ERISA and employee benefits, estate planning, employment, labor & human resources and real estate practice. 

 

Established in 1996, The Wagner Law Group is dedicated to the highest standards of integrity, excellence and thought leadership and is considered to be amongst the nation's most exceptional ERISA and employee benefits law firms. The firm has six offices across the country, providing unparalleled legal advice to its clients, including large, small and nonprofit corporations as well as individuals and government entities worldwide. The Wagner Law Group's 27 attorneys, senior benefits consultant and three paralegals combine many years of experience in their fields of practice with a variety of backgrounds. Seven of the attorneys are AV rated by Martindale-Hubbell and six are Fellows of the American College of Employee Benefits Counsel, an invitation-only organization of nationally recognized employee benefits lawyers.  Six of the firm's attorneys have been named to the prestigious Super Lawyers list for 2016, which highlights outstanding lawyers based on a rigorous selection process.

 

 

 

Contact Info

The Wagner Law Group

 

  Integrity | Excellence

  

Boston 

Tel: (617) 357-5200 

Fax: (617) 357-5250 

99 Summer Street 

13th Floor

Boston, MA 02110

 

Washington, D.C.

Tel: (202) 969-2800

 

Fax: (202) 969-2568

 800 Connecticut Avenue, N.W.

Suite 810

Washington, D.C. 20006

  

Palm Beach Gardens 

Tel: (561) 293-3590
Fax: (561) 293-3591
7108 Fairway Drive
Suite 125
Palm Beach Gardens, FL 33418

   

Tampa

Tel: (813) 603-2959

Fax: (813) 603-2961

101 East Kennedy Boulevard

Suite 2140
Tampa, FL  33602 

  

San Francisco

Tel: (415) 625-0002

Fax: (415) 358-8300

300 Montgomery Street

Suite 600

San Francisco, CA 94104

  

St. Louis

Tel: (314) 236-0065

Fax: (314) 236-5743
100 South 4th Street, Suite 550
St. Louis, MO  63102 

 

 

www.wagnerlawgroup.com

 

 

 

President Trump Issues

'Two-for-One' Regulations

Executive Order

 

 

 

 

On Monday, January 30th, President Trump issued an executive order providing that, unless otherwise prohibited by law, in the event an executive department or agency proposes or promulgates a new regulation, it must identify at least two existing regulations to be repealed. Additionally, the order  provides that for fiscal year 2017, the total incremental cost of all new regulations, including repealed regulations, to be finalized this year, may  not exceed zero, unless otherwise required by law or consistent with advice provided by the Director of the Office of Management and Budget ("OMB"). The order further states that, to the extent allowed by law, any new incremental costs associated with new regulations must be offset by the elimination of existing costs associated with at least two prior regulations. 

 

For future fiscal years, the order directs that the head of each agency identify, for any regulation that increases incremental cost, the regulations that will be used to offset that cost, and must provide the agency's best estimation of the total costs or savings associated with any new or repealed regulation.  Also for future fiscal years, the Director of the OMB is directed to identify a total amount of incremental costs that will be allowed for each agency in issuing new regulations and repealing regulations. Any regulation that has an associated cost exceeding the related agency's total incremental cost allowance will not be permitted in that fiscal year, unless required by law or approved in writing by the Director of the OMB.  The total incremental cost allowance identified by the Director may allow an increase or require a reduction in total regulatory cost.
 
The executive order also addresses the issue of how the 'two-for-one' concept may be implemented. It gives broad authority to the Director of the OMB to provide agencies with guidance that addresses implementation issues, including (but not limited to): processes for standardizing the measurement and estimation of a regulation's costs; standards for determining what qualifies as new and offsetting regulations; standards for assessing the costs of existing regulations that are considered for elimination; processes for accounting for costs in different fiscal years; oversight methods with respect to the issuance of rules with costs offset by savings at different times or different agencies; and, emergencies and other situations that might justify individual waivers.  The order further prescribes that the Director of the OMB consider phasing in and updating these requirements, and that, unless otherwise required by law or approved by the OMB Director, no regulation may be issued by an agency if it was not included by the Director in the most recent Unified Regulatory Agenda. 

 

While the executive order states that it applies to regulations proposed or promulgated by executive departments and agencies, specifically excluded are regulations related to a military, national security, or foreign affairs function of the United States. Additionally, the White House has stated that the order does not apply to independent regulatory agencies, such as the Securities and Exchange Commission and the Consumer Financial Protection Bureau.

 

 

The complete text of the executive order is available
by clicking
here

 

 

 

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This Newsletter is provided for information purposes by The Wagner Law Group to clients and others who may be interested in the subject matter, and may not be relied upon as specific legal advice.  This material is not to be construed as legal advice or legal opinions on specific facts. Under the Rules of the Supreme Judicial Court of Massachusetts, this material may be considered advertising.