President Donald Trump is not only keeping one of his campaign promises, he is surpassing it eight fold. And in so doing, he has given an epic blow to the Obama legacy.
In January, Trump signed an executive order requiring that for every new federal regulation he implements, two must be repealed, Politico reported.
The president has shattered that goal. The Washington Examiner reported that according to top officials, Trump has eliminated 16 old regulations for every new one in his fist six months in office.
“It’s really the beginning of a kind of fundamental regulatory reform and a reorientation of where we’re going with regulation,” said the administrator of the Office of Information and Regulatory Affairs in the Office of Management Budget Neomi Rao.
On Thursday, the Unified Agenda of Regulatory and Deregulatory Actions released a report that showed how hundreds of regulations have been killed or shelved. The Examiner reported that many of those were from Obama’s final days in office, when he flooded the system with proposed rules and regulations.
The report showed that Trump has withdrawn or removed a mind-boggling 860 regulations from active status so far.
The report also compared Obama’s first five months in office to Trump’s. Unsurprisingly, Obama imposed $3.1 billion in regulatory costs while Trump has cut regulations, saving around $22 million annually.
Trump has already saved taxpayers a significant amount of money by rolling back regulations, and Rao indicated that this rollback is just the beginning.
Rao said the practice in past administrations has been to only propose new rules. In fact, in the Unified Agenda report, there is no deregulation column, a problem she promised will be changed soon so it would be easier to keep up with regulations that have been repealed or withdrawn.
The Trump administration said last weeks that its “MAGAnomics” goal of 3 percent economic growth depends in part on cutting costly regulations as well as giving businesses freedom to do more.
This is good news for Americans and the economy because the more free the market becomes, the better it performs.
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Source: Conservative Tribune