Trump keeps another promise --Cuts red tape to historic low
President Trump is living up to his campaign pledge to cut back on red tape, reducing new regulations to a tiny fraction of the burden imposed by previous administrations, a new study said Tuesday.There has also been an increase in proposed regulations that have been withdrawn. I suspect that this is one reason by economic growth is also increasing.
Cabinet agencies under Mr. Trump finalized only $33 million in costs for new regulations through May 23, compared with an average of $26 billion for the same period in previous administrations dating back to 2005, said Sam Batkins, director of regulatory policy at the American Action Forum.
That’s a regulatory output of just 0.12 percent under Mr. Trump, compared with the historical average.
In the sheer volume of regulations, Mr. Trump has released 8 percent of the historical average of new rules issued by Presidents Barack Obama, George W. Bush and Bill Clinton.