and Budget shall issue guidance regarding the implementation of this subsection. (b) Performance assessment The head of each agency shall consider the progress implementing this Act in assessing the performance of the Regulatory Reform Task Force of the agency and those individuals responsible for developing and issuing agency rules. 6. Regulatory cap (a) Identification of rules During fiscal year 2018, before an agency may publish a notice of proposed rulemaking under section 553(b) of title 5, United States Code, for a significant regulatory action or otherwise publicly propose promulgating a significant regulatory action, the head of the agency, in consultation with the Regulatory Reform Task Force of the agency, shall identify not less than 2 regulatory actions issued by the agency that are appropriate for repeal. In identifying regulatory actions for repeal, the head of each agency shall prioritize those regulatory actions that the Regulatory Reform Task Force of the agency identified under section (4)(d)(2). For each regulatory action identified, the head of the agency must confirm that the agency can continue to achieve regulatory objectives (such as health or environmental protection) if the identified regulatory actions were to be repealed. (b) Total incremental cost for 2018 For fiscal year 2018, the total incremental cost of all new significant regulatory actions at each agency and any repealed regulatory action, to be finalized in fiscal year 2018 shall be no greater than zero, or consistent with a waiver provided by the Director of the Office of Management and Budget. (c) Offset of new incremental costs Any new incremental cost associated with a new significant regulatory action shall be offset by the elimination of existing costs associated with at least two prior regulatory actions. To the extent feasible, the two prior regulatory actions shall be eliminated before or on the same schedule as the new significant regulatory action. Any savings of the two eliminated regulatory actions shall offset