Previewing President Trump’s Thursday announcement on his team’s success, a top official said that the reduction on regulations has topped 10 for every new one imposed.
“An economic miracle is happening,” the official told Secrets. “We are pulling away from the economic headwinds we faced early and the tax cut will sustain our efforts. It’s a two for one punch.”
Trump will reveal the exact number of regulations cut and the savings in a Roosevelt Room address.
When he came to office, he signed Executive Order 13771 to cut two regulations for every new one. Part of the goal was to overturn 600 last-minute rules imposed by former President Barack Obama at the end of his term, at more than a $15 billion price tag. …
“Some regulations legitimately address important health, safety and welfare priorities identified by Congress. The Trump administration respects the rule of law and will not roll back effective, legally required regulations. But in the previous administration, agencies frequently exceeded their legal authority when imposing costly rules. Some agencies announced important policy changes without following the formal rule-making process,” [Neomi Rao, the head of the Office of Regulatory Affairs] wrote.