Trump Slashes $6B in Red Tape
The president is cutting government regulations at double the rate he campaigned on.
One of President Donald Trump’s campaign promises that he has been most successful in accomplishing is slashing onerous and unnecessary federal regulations. He promised to cut two regulations for every new one added. Wayne Crews of the Competitive Enterprise Institute recently calculated the ratio of regulations cut to those added and found that, from the fall of 2017 to spring of 2018, Trump’s rate of deregulation had not only met his 2-to-1 pledge but surpassed it by the rate of 4-to-1. He currently sits at an impressive 5-to-1.
This aggressive deregulation amounted to a regulatory cost cut of $6 billion in 2017, and this year it’s estimated that Trump’s effort will ease Americans’ regulatory burden by another $10 billion. While $10 billion is small savings compared to the recent $300 billion omnibus bill, it’s certainly a step in the right direction. As James Freeman of The Wall Street Journal notes, “How beautiful is Mr. Trump’s $6 billion cut in year one in the regulatory costs imposed by Washington on the U.S. economy? It depends on how you look at it. It is certainly a remarkable and welcome change from his predecessor, who in eight years increased the regulatory burden by some $600 billion.”
In spite of stiff resistance from the Washington swamp and the Leftmedia, Trump has been able to succeed where many previous politicians have failed. And he’s carrying out the agenda he campaigned on. Americans benefiting from a growing economy are thanking him for it.