Trump’s Deregulation Binge Is Lightening The Economy’s Load
Investor’s Business Daily cited Clyde Wayne Crews on the extent of the impact which the Trump adminstration’s deregulatory stance is having on the nation’s economy.
With all that was going on last week, maybe you missed this: President Trump has cut 22 regulations for every new one put on the books over the last year. It’s a big reason why the economy is perking up.
For fiscal 2017, major U.S. government agencies put out some 67 actions to deregulate the economy. Meanwhile, they issued just three new major rules. Trump vowed before entering office to cut two rules for each new one imposed, so mission accomplished, big time.
“The never-ending growth of red tape in America has come to a sudden, screeching and beautiful halt,” Trump said on Thursday, as he released the federal government’s twice-a-year Unified Agenda for regulation.
The cost savings so far from the effort: Some $8.1 billion in net federal regulatory costs. But the impact on the larger economy is far more significant.
A big reason for this is, as the Competitive Enterprise Institute’s Clyde Crews notes, the effort is more far-reaching than it seems. Because the actual deregulation actions taken so far are just a drop in the bucket.
Read the full article on Investor’s Business Daily.