Obama: Updating regulations saves billions

WASHINGTON, May 10 (UPI) -- Removing five outdated regulations will save the United States at least $6 billion in the next five years, the White House said Thursday.

President Obama also signed an executive order requiring federal departments to report regularly on their progress in getting rid of outdated regulations.

The changes that have been made include eliminating regulations requiring gas stations to install air pollution control equipment. The rule has been in place since 1990, before most cars had their own pollution control systems, the Obama administration said in a statement.

Another change exempts rail lines that do not carry passengers or toxic materials from a requirement to install equipment by 2015 that can control traffic in an emergency. The Department of Transportation is also updating its regulations to give states more flexibility on traffic control devices.

"Smart rules can save lives and keep us safe, but there are some regulations that don't make sense and cost too much," Obama said. "We will remain vigilant when it comes to eliminating regulations that are not necessary or that impose unnecessary burdens on America's families and businesses."