WASHINGTON—House Speaker Paul Ryan (R-WI) issued the following statement on President Trump’s executive action on regulations:

“The explosion of federal regulations has hamstrung small business growth and crippled our economy. President Trump’s executive order helps bring the nation’s regulatory regime into the 21st century by putting regulators on a budget, and addressing the costs agencies can impose each year. These concepts build on a key plank of our Better Way agenda to unlock the potential of America’s entrepreneurs, who have been stymied for too long. 

“This action comes as the House passes legislation this week to repeal several of President Obama’s harmful regulations, including the stream protection rule, which threatens thousands of coal industry jobs. Earlier this month, the House passed the REINS Act, which ensures Congress has an up-or-down vote on major regulations. Congress will continue to work with the Trump administration to protect jobs and promote prosperity.”