President Trump's Deregulation Continues

  • Source: The Lead
  • by:
This morning, the Office of Management and Budget announced that in the last year, the Trump Administration’s regulatory reform efforts have led to a total of $23 billion in cost savings.

Under President Trump’s leadership, the Administration has revived the American economy by getting rid of unnecessary, outdated, and duplicative regulatory burdens.

ENDING OVERREGULATION: President Donald J. Trump is delivering on his promise to get rid of unnecessary, outdated, and duplicative regulations.
  • The Trump Administration is releasing findings that show the President’s regulatory reform efforts saved American families and business owners $23 billion in fiscal year (FY) 2018. 
    • This progress builds on the Administration’s significant regulatory reforms in FY 2017.
  • President Trump’s historic regulatory reform is a complete change in direction, with Americans actually seeing an overall decrease in regulatory burdens.  
  • The Administration issued 176 deregulatory actions last year, eliminating 12 regulations for every new one according to the Office of Information and Regulatory Affairs (OIRA).  
    • The President has again exceeded his pledge to cut two regulations across the year for every new one.
  • Since taking office, President Trump’s efforts have achieved $33 billion in regulatory savings.
    • In a stark contrast, President Obama imposed $245 billion in burdensome regulatory costs on the American people in his first 21 months in office.
  • Businesses are finally being freed of Washington’s overreach and the American economy is flourishing as a result.

REAL RESULTS: President Trump’s efforts to cut burdensome and unnecessary red tape are bringing real change and delivering real results for Americans.
  • The Department of Labor made it easier for small businesses to provide better health insurance to their employees through association health plans.
  • The Department of Veterans Affairs greatly expanded veterans’ ability to use telehealth services, giving them access to state-of-the-art healthcare everywhere.
  • The National Oceanic and Atmospheric Administration has taken action to free our fishermen from burdensome red tape while also promoting responsible fishing practices.
    • For instance, areas off the coast of New England have been opened to commercial sea scallop harvesting for the first time in years, netting an economic benefit of $654 million.
  • The Department of Health and Human Services reduced paperwork for nursing facilities, inpatient hospitals, and home health providers, saving $8.2 billion in regulatory costs. 

DEREGULATION WILL CONTINUE: The Trump Administration will continue its bold reforms to roll back burdensome red tape in FY 2019.
  • President Trump’s regulatory reform efforts are accelerating, and we will continue to take a responsible approach to addressing overly burdensome regulations in FY 2019.
  • The Department of Transportation (DOT) and the Environmental Protection Agency (EPA) have proposed amendments to existing
    • These amendments could save up to $340 billion over the lifetime of new vehicles.
  • The EPA and Army Corps of Engineers have proposed new rulemakings that would reassess the Obama Administration’s burdensome “Waters of the United States” rule.
  • EPA has proposed the Affordable Clean Energy rule, which would replace the 2015 Clean Power Plan (CPP).
    • In some scenarios, avoided compliances costs total $6.4 billion compared to the CPP.

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