It’s not the first time a president has empowered a business tycoon to look for ways to dramatically cut federal regulations.

President Ronald Reagan created the efficiency-minded Grace Commission in 1982, promising that it would “drain the swamp.” President Bill Clinton established the National Partnership for Reinventing Government in 1993 with the goal of making the government “work better, cost less, and get results Americans care about,” keeping it active until 1998.