Regulatory Reform Statement on Receiving a Report From the Regulatory Council.

I have today received a report from the Regulatory Council summarizing reform actions taken by executive and independent regulatory agencies since 1978. The report outlines more than 130 reform initiatives undertaken by executive and independent agencies. I am pleased to receive the report, and I thank the Regulatory Council and its Chair, Douglas Costle, for preparing it.

Since I took office, this administration has been working to eliminate unneeded regulations and to reduce the burdens imposed by those we do need. Regulatory reform can make it possible to achieve important regulatory goals, such as clean air and water, safe, workplaces and products, and an end to discrimination, more effectively and at less cost than in the past.

When competition is held back by Federal regulatory intervention, the result is higher prices. Working with Congress, we have pushed forward the broadest economic deregulation program in the history of this Nation. Total or partial deregulation is underway for the airlines, crude oil and natural gas, and financial institutions. I am now working with Congress to reduce regulation in the trucking, railroad, and communications industries. In the meantime, as this report demonstrates, the departments and agencies responsible for these industries have taken steps to enhance competition under their existing authority.

The benefit to our Nation from these efforts is clear. Deregulation of the airline industry, for instance, has saved consumers $5 billion over the past 2 years. Trucking deregulation will save, by the Congressional Budget Office's estimate, about $8 billion a year.

During the past 3 years, I have used my authority as President to improve and streamline the overall process of regulation and to reduce paperwork requirements by 15 percent. I am working with Congress to complete action this session on my regulation reform act. I am pleased that this report demonstrates the strong commitment to regulatory reform of the men and women I appointed to manage the regulatory system.