[Public Papers of the Presidents of the United States: George H. W. Bush (1992, Book I)]
[April 29, 1992]
[Pages 665-666]
[From the U.S. Government Publishing Office www.gpo.gov]



Memorandum on Implementing Regulatory Reforms

April 29, 1992
Memorandum for Certain Department and Agency Heads

Subject: Implementing Regulatory Reforms

    On January 28, 1992, I issued a memorandum asking each of you to set 
aside a 90-day period to conduct a review of existing regulations and 
programs and to accelerate initiatives that will create jobs and 
stimulate economic growth.
    Your response thus far has been excellent. Together, we have already 
implemented numerous reforms that will ultimately reduce the prices 
American consumers and businesses pay for energy and transportation, 
increase the amount of credit available for business expansion and 
homes, cut red tape for emerging industries such as biotechnology, and 
reduce many other regulatory barriers to job creation and economic 
growth.
    But much remains to be done. Within the next few days, each of you 
will be submitting a report outlining additional proposals to eliminate 
or revise unnecessary, and unnecessarily burdensome, regulations. Every 
agency has identified a number of reforms that can be accomplished 
without new legislation. We must make every effort to implement as 
quickly as possible those proposals that will create jobs and enhance 
economic growth without endangering public health or safety.
    Accordingly, I ask that each of your agencies set aside the next 120 
days for this purpose. To that end, I request that, to the maximum 
extent possible, you adhere to the following specific guidelines:
    1. Reforms that do not require public comment should be implemented 
    as quickly as possible, but no later than June 1, 1992. Reforms that 
    have already been noticed for public comment should be issued in 
    final form as quickly as possible, but no later than August 1, 1992.
    2. Other reforms requiring public comment should be noticed for 
    comment as soon as possible--but no later than June 15, 1992--with a 
    view to issuing final rules no later than August 27, 1992.
    3. On September 1, 1992, each agency should submit an additional 
    report to me. This report should summarize all the pro-growth 
    reforms implemented since January 28. It should also estimate the 
    potential cost savings or other benefits to the economy created by 
    these pro-growth reforms, including an estimate of the expected net 
    increase in jobs.
    4. To ensure that adequate agency resources are devoted to the 
    reform effort, your agency should continue, during this 120-day 
    period, to adhere to the moratorium as described in my January 28 
    memorandum. I emphasize, as I did then,

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    that this moratorium does not apply to certain limited categories of 
    regulations, including those that respond to situations posing an 
    imminent danger to human health or safety.
    5. Your agency should also continue to adhere to the substantive 
    standards detailed in my January 28 memorandum with respect to all 
    programs and regulations. And, to the extent it does not duplicate 
    existing regulatory review processes, you should submit to me, in 
    advance, a complete regulatory impact analysis of each major rule 
    proposed to be issued during this period. This will help ensure that 
    these regulations achieve their objectives at the least cost to 
    American consumers and workers.
    In implementing your reforms and in preparing the reports described 
in paragraph 3, you and your agency's regulatory oversight official 
should continue coordinating with the Competitiveness Council's Working 
Group on Regulatory Reform.

                                                             George Bush

The Secretary of the Treasury, the Secretary of Defense, the Attorney 
General, the Secretary of the Interior, the Secretary of Agriculture, 
the Secretary of Commerce, the Secretary of Labor, the Secretary of 
Health and Human Services, the Secretary of Housing and Urban 
Development, the Secretary of Transportation, the Secretary of Energy, 
the Secretary of Education, the Chairman of the Interstate Commerce 
Commission, the Chairman of the Board of Governors of the Federal 
Reserve System, the Chairman of the Federal Trade Commission, the 
Chairperson of the Federal Deposit Insurance Corporation, the Chairman 
of the Securities and Exchange Commission, the Chairman of the Federal 
Communications Commission, the Chairman of the Federal Maritime 
Commission, the Chairman of the Equal Employment Opportunity Commission, 
the Administrator of the Environmental Protection Agency, the Chairman 
of the Nuclear Regulatory Commission, the Chairman of the Commodity 
Futures Trading Commission, the Chairman of the Federal Energy 
Regulatory Commission.