The Trump administration is moving to roll back regulations that have stymied its economic expansion.
The White House said Friday that it would eliminate some rules that restrict the ability of small businesses to sell insurance on federal exchanges.
The move comes after President Donald Trump said Thursday he planned to roll out his tax overhaul on Friday, which would include changes to how many people can be enrolled in health insurance plans.
The Trump administration also said Friday it was moving to ease restrictions on foreign travel, and expand access to health insurance to millions of people who lack health insurance.
The White House initially said it would expand the number of people eligible for Medicaid expansion to 1 million by 2020.
But the new rules would limit the number and types of people allowed to travel overseas.
Trump has also announced a plan to slash corporate taxes to 25% from 35%, and eliminate a special deduction for overseas profits.
The president said the changes would make the country more competitive and will help it “avoid massive, needless regulations that hurt our economy and threaten jobs and growth.”
Trump’s tax overhaul is one of the biggest policy initiatives of his presidency, and it is being touted by some as a way to bring back jobs.
The plan would slash taxes by about $5 trillion, or more than one-third of the $19.8 trillion the economy has generated in the past decade.
The president’s proposal to repeal the Affordable Care Act, known as Obamacare, is also among the biggest tax cuts in recent history.
The new tax plan is part of a broader package of tax cuts that Trump is expected to sign into law next week.
The administration has said it will lower rates on individual income taxes, eliminate the estate tax and lower corporate tax rates.
It has said that the plan would not add to the federal debt.
The nonpartisan Tax Policy Center, a Washington think tank, said last week that the tax plan could raise $1.6 trillion over a decade.
That includes $1 trillion for higher-income taxpayers and $900 billion for middle-income households.