WASHINGTON, Aug. 23 (UPI) -- The Obama administration introduced a plan Tuesday for U.S. regulatory reform that officials say would save $10 billion in the next five years.
Among the 500 changes proposed are easing the visa application process, speeding up payment to Defense Department contractors and eliminating 100 regulations in the Department of Transportation, The Washington Post reported. Cass Sunstein, administrator of the Office of Information and Regulatory Affairs, estimated the savings at $10 billion.
"But numbers do not tell the whole story," he told reporters on a morning conference call. "There are a number of initiatives that are finished or well under way or contemplated that will make a difference to people."
Sunstein said the administration's goal is also to make the regulatory process more open and flexible.
House Majority Leader Eric Cantor, R-Va., who described the plan as "underwhelming," said President Barack Obama remains unwilling to tackle regulation.
"The House will continue our jobs focus and pursue a legislative agenda that boosts economic growth through reducing the regulatory and tax burden," he said.
