Onerous, business-killing, government regulations are being slashed at ‘historically low levels’ under the Trump administration.
One of Donald Trump’s key campaign promises was to cut the previous administration’s costly regulations. He planned to do this by eliminating two rules for every new one placed on the books.
After winning the election in November, and prior to assuming office, Trump explained his plan in a video released during the transition.
“I will formulate a rule which says that for every one new regulation, two old regulations must be eliminated,” he announced.
“I will formulate a rule which says that for every one new regulation, two old regulations must be eliminated. So important.” — Donald Trump
— Matt Viser (@mviser) November 21, 2016
Not only is the President slashing regulations, but he’s doing so at breakneck speed. In fact, according to two separate reports from the Competitive Enterprise Institute (CEI) and American Action Forum, he’s far outpacing President Reagean who had the unenviable task of cutting through the mountain of red tape created by Jimmy Carter.
The CEI report indicates that the Trump administration has issued 58 percent fewer costly regulations in and of itself, but has also slashed the federal register by 32 percent.
American Action Forum’s Dan Goldbeck said the regulation reduction has been historic.
“As the Trump Administration transitions into the new fiscal year and next phase of Executive Order 13,771, it can reasonably claim net regulatory savings of roughly $560 million under the EO’s first phase,” he said. “There have been some new regulatory costs, but activity on that front remains at a historically low level.”
Less than a year in, the Trump Administration has already saved $560 million by cutting bad regulations. https://t.co/lsYhDIINwp
— Blake Farenthold (@farenthold) October 3, 2017
CEI Vice President says that for now, “Trump is moving much faster” than Reagan was when he sought to cut Carter’s expanded federal registry by 1/3rd.
In a speech to the National Association of Manufacturers last week, the President bragged about his efforts to repeal regulations, citing the Environmental Protection Agency as an example.
He promised “beautiful, fast, efficient” regulations that work well for businesses.
“We are cutting regulations at a pace that has never even been thought of before,” Pres. Trump tells NAM https://t.co/HarcUS5aO0 pic.twitter.com/JGt8W5p04p
— CBS News (@CBSNews) September 29, 2017
Neomi Rao, President Trump’s regulatory czar, said the administration is ahead of schedule in achieving President Trump’s order to cut regulations at a two-for-one pace.
Do you support slashing federal regulations? Share your thoughts below!
