Administration moves plan to ax hundreds of rules

WASHINGTON (AP) — The Obama administration disclosed plans Tuesday to cut or roll back hundreds of federal regulations, including some that will streamline tax forms at the Internal Revenue Service, let railroad companies pass on installing expensive new technology, and speed up the visa process for low-risk visitors to the U.S.

The administration said the regulations will save businesses up to $10 billion over the next five years and spur job growth in the private sector.

The move, announced while President Barack Obama was on vacation in Martha's Vineyard, was the latest White House gesture to reach out to a business community that has often felt alienated from the administration.

The move was criticized by some