The Expediting Reform And Stopping Excess Regulations Act or the ERASER Act requires U.S. government agencies to repeal three existing regulations before they can issue a new one. For major regulations, the cost of the new regulation must not exceed the cost...
Simple Explanation
The ERASER Act wants all government departments to get rid of three old rules for every new rule they want to make. Also, if the new rule costs more money, they can only make it if it balances out with the old rules they remove.