The Obama Administration has adopted a number of initiatives to promote smart, cost-justified regulation, according to a White House blog post today.

The president ordered an unprecedented government-review of existing rules in January, the post states, resulting in ambitious reform plans from more than two dozen agencies. The plans outline hundreds of cost-saving reforms, some of which will save more than $10 billion over the next five years, the post states.

For example, the post indicates the Federal Register displayed a final rule from the Department of Labor today that will bring our warning labels for hazardous chemicals in line with those of other nations. As of June 1, 2015, the Hazard Communication Standard (HCS) will require pictograms (some of which are pictured above) on labels to alert users of the chemical hazards to which they may be exposed.

The post goes on to state that this rule will save employers a lot of money on training and updating of materials; improve safety and health protections for American workers; and reduce trade barriers for chemical manufacturers that sell their products abroad. The overall five-year savings will be in excess of $2.5 billion, most of it in the form of savings for employers.