One News Now discusses regulatory reform under the Trump administration with Ryan Young.
President Trump also made headlines late Friday for a presidential memorandum freezing new regulations issued by the Obama administration. But Ryan Young of the Competitive Enterprise Institute tells OneNewsNow that the new administration is doing exactly what others have done in the past – and for a long time.
Young says the Trump administration wants to check and review what the previous White House has been doing, especially when there is a change of party, as is the case here.
"So I can see why President Trump is doing what he's doing," says Young. "Basically ... he's putting a 60-day delay on when the later Obama administration regulations come into effect – and those affect everything from incandescent light bulbs to ceiling fans, as a lot of them are energy- and environment-related."
Is the Competitive Enterprise Institute in favor of Trump looking at existing regulations and doing something about those rules?
"The existing code of federal regulations is 178,000 pages long and costs about $1.9 trillion per year," Young replies. "Some of those regulations are worth the cost and some are not, so I think somebody should take a look, not just at the new regulations that are coming out of the pipeline right now but at those old regulations."
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