Oklahoma to reduce business requirements to promote growth

BY ASSOCIATED PRESS
01/15/2020 11:30 AM
OKLAHOMA CITY (AP) – Oklahoma Gov. Kevin Stitt is taking steps to reduce the requirements for businesses to open in the state, echoing a federal move that implemented a similar policy.

The Republican governor said Jan. 8 that he plans to sign an executive order aimed at slashing the number of regulations in Oklahoma.

“My goal is to have a 25% reduction in regulations by the end of my term,” Stitt said at a Petroleum Alliance of Oklahoma luncheon. His term ends January 2023.

Stitt said he hopes the action will help cut unnecessary red tape that can hinder businesses growth in the state, The Oklahoman reported. He didn’t provide details on which regulations he will be targeting, noting that there will be talks with Oklahoma business and industry leaders about deregulation that will make it easier for businesses to open and operate.

Oklahoma has nearly 145,000 state regulations, according to the Mercatus Center at George Mason University.

In 2017, President Donald Trump signed an executive order requiring federal agencies to cut two existing regulations for every new regulation they implement.

In the Sooner state, Stitt’s remarks on Jan. 8 weren’t clear if he would follow Trump’s two-for-one approach or use a different method to slash regulations. The governor said he notified his agency heads about the impending change at a meeting this week. He also said he plans to launch a website to take suggestions on which regulations should be abandoned.

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