Federal Regulations at All-Time Low Under President Trump
President Donald Trump has kept to his campaign promise to clear federal regulations, bringing them down to a record low, according to a new study.
“The results are substantial,” reads the report. “New regulatory burdens are a fraction of those established under President Obama’s 1st 6 months; overall regulatory volume has slowed to historically low levels; and a number of notable deregulatory measures have been initiated.”
“If you look at what’s happening in the 1st 6 months for President Trump compared to President Obama, it’s staggering,” AAF president Douglas Holtz-Eakin said on TV Friday. “There’s about 5% of the regulatory cost, 10% of the paperwork hours.”
Donald Trump said on the campaign trail, “for every new regulation, we’re going to cut two,” and that he would “get rid of all the unnecessary regulations,” according to fact tracking.
AAF reports that 27 rules have been rescinded this year, compared to the 41 that were approved.
“Mr. Trump has put out 41 regulations, there have been times in history when the President has put out 400 in the 1st 6 months,” added Mr. Holtz-Eakin, the former head of the Congressional Budget Office (CBO) under former President George W. Bush.
“The business community really feels like the beatings have stopped, Washington is not trying to put them in the bulls eye, and they can go about running their businesses and not worrying about the regulations.”
Have a terrific weekend.