The Trump administration is set to dismantle an Environmental Protection Agency (EPA) initiative that was expected to save U.S. businesses as much as $2.4 billion in regulatory expenses, according to the EPA.

On Friday, EPA Administrator Lee Zeldin introduced a proposal to eliminate the Greenhouse Gas Reporting Program (GHGRP), which mandates that specific companies and facilities submit data on their greenhouse gas emissions along with other pertinent details, as per the agency.

This action is the latest in a series of deregulatory steps by Zeldin, who, on July 29, moved to rescind the 2009 Endangerment Finding—a key Obama-era regulation that energy experts say serves as a foundation for stringent power plant rules. The proposed rule change aims to relieve companies of a “burdensome” regulatory obligation costing up to $2.4 billion, the EPA states.

The agency contends that by easing the regulatory load, businesses currently required to report could redirect compliance resources toward real, measurable environmental outcomes. Allocating funds to government-mandated priorities instead of addressing a company’s actual needs consistently reduces the company’s financial health that results in fewer jobs or opportunities for employees.

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