President Donald Trump signed a new executive order taking aim at government regulations on Friday.
The president says the order will direct each federal agency to establish a regulatory reform task force. The task forces will then recommend which regulations they can simplify or eliminate, according to the Associated Press.
The president has long argued that excessive regulations are "killing jobs, driving companies out of our country like never before."
More on the executive order
He says the regulator burden is "an impossible situation" for big and small businesses, but says, "we're going to solve it very quickly."
Trump signed the order in the Oval Office surrounded by top executives from major corporations.
He signed a previous order that instructed agencies to identify two regulations to eliminate for every new one they create.
Trump's new executive order on regulatory review explicitly builds on predecessors' orders, including EO 12866 (Clinton) & EO 13563 (Obama).— Gregory Korte (@gregorykorte) February 24, 2017
--The Associated Press contributed to this report.