Washington, D.C. — Coming off of President Trump's end-of-year speech on affordability and Making America Great Again, the White House Office of Management and Budget's Office of Information and Regulatory Affairs (OIRA) released its year-end regulatory accounting for Fiscal Year 2025. The numbers are not only bigger and better than expected, but historic.
- In total, agencies finalized 646 deregulatory actions compared to only 5 regulatory actions, for a ratio of 129-to-1, dramatically exceeding the President's 10-to-1 target.
- These actions have realized $211.8 billion in net cost savings, over $600 per American.
"The Trump Administration's deregulatory agenda is the most ambitious in American history. We have blown far past the target 10-to-1 deregulatory ratio in President Trump's Executive Order, saving hundreds of billions for the American people. In less than one year we have already achieved more savings than in all four years of the prior Trump Administration, and we're just getting started," said White House Office of Management and Budget Director Russ Vought.
Background
Examples of historic deregulatory actions taken this year include:
- FinCEN's rule on Beneficial Ownership Information Reporting Requirement Revision eliminated burdensome requirements for American companies and people to disclose personal information to the government, greatly reducing compliance costs and saving $128.6 billion
- TSA took deregulatory action ending the requirement to remove shoes during airport screenings, saving $25.4 billion
- FDA rolled back a Biden-era regulation on Medical Devices and Laboratory Developed Tests that would have imposed enormous compliance costs and stifled innovation, saving $20.3 billion
- HUD's Federal Housing Administration rolled back unnecessary mortgage requirements that tied up lenders with excessive paperwork and delayed loan approvals, saving $1.4 billion
- Across the executive branch, agencies rescinded costly, discriminatory DEI requirements, refocused on core missions, and redirected federal dollars to mission-critical work
