On Tuesday, December 31, the White House released the following update on deregulation as part of a summary of Trump Administration accomplishments:
LIFTING THE BURDEN OF OVERREGULATION: President Trump’s historic deregulation efforts are driving economic growth, cutting unnecessary costs, and increasing transparency.
President Trump has delivered on, and far exceeded, his promise to slash two existing regulations for every new regulation.
- Since taking office, President Trump has rolled back nearly 8 regulations for every new significant one.
The Trump Administration’s deregulatory efforts have slashed regulatory costs by more than $50 billion.
In the coming years, the average American household is projected to see an income gain of $3,100 per year thanks to President Trump’s historic regulatory reform.
Once fully in effect, 20 major deregulatory actions undertaken by the Administration are expected to save American consumers and businesses over $220 billion per year.
President Trump signed 16 pieces of deregulatory legislation that are expected to result in a $40 billion increase in annual real incomes.
President Trump established the Governors Initiative on Regulatory Innovation.
- This initiative is working to reduce outdated regulations at the State, local, and tribal levels, advance occupational licensing reform, and align Federal and State regulation.
The President signed legislation eliminating regulatory barriers that made offering retirement benefits difficult for small businesses.
The President took action to increase transparency in Federal agencies and protect Americans from administrative abuse.
- This year, President Trump signed two Executive Orders to guard against secretive or unlawful interpretations of rules and prevent Americans from being hit with unfair and unexpected penalties.
President Trump has followed through on his promise to repeal the Obama-era Waters of the United States Rule, lifting a burden off American farmers.
President Trump ended the previous Administration’s war on coal.
- President Trump signed legislation repealing the harmful Obama-era Stream Protection Rule.
- President Trump replaced the overreaching Obama-era Clean Power Plan with the Affordable Clean Energy Rule, which respects States’ rights and promotes economic growth while lowering power-sector CO2 emissions.
In 2017, the President announced the United States’ withdrawal from the Paris Climate Agreement, which would have killed millions of American jobs.
The Administration has worked to undo the Obama-era fuel economy regulations by proposing the SAFE Vehicles Rule to lower the cost of new and safer cars.
President Trump helped community banks by signing legislation that rolled back costly provisions of Dodd-Frank.
President Trump established the White House Council on Reducing Regulatory Barriers to Affordable Housing Development to bring down the costs of housing across the country.
The President’s deregulatory actions are removing government barriers to personal freedom and consumer choice in healthcare.
In 2017, President Trump corrected Obama Administration overreach by right-sizing Bears Ears National Monument and Grand Staircase-Escalante National Monument.