2 for 1 Act

The 2 for 1 Act requires federal agencies to identify and repeal two existing regulations whenever they propose or issue a new rule. This ensures that the net regulatory cost to private entities does not increase - new rules must offset their costs by eliminating at least two other rules. Agencies must submit cost details to the Office of Management and Budget (OMB), which sets annual cost allowances for each agency. The law excludes national security, military, and agency management rules from these requirements.