Working in tandem with the GOP-led Congress, President Donald Trump has managed to save American businesses, investors and consumers an estimated $60 billion by slicing and dicing former President Barack Obama’s draconian regulations like a professional chef.
Moreover, the recent repeal and delay of additional regulations could ultimately lead to a notable $85 billion in net fiscal savings, according to a report published Wednesday by the center-right American Action Forum policy institute.
“Combined, these actions could generate more than $18 billion in annual regulatory savings for businesses, investors, and consumers,” the report noted.
Just the recent reversal of the Obama administration’s “Waters of the United States” rule, which would have reportedly subjected lakes and ponds to federal regulation, could save $16 million.
Likewise, the signing of a resolution by the president last month to abolish a regulation designed to help implement the Every Student Succeeds Act could save an additional “$73 million in costs and 930,000 hours of paperwork, as well as $86 billion in new spending,” according to the AAF.
And the repeal of the “Fair Pay and Safe Workplaces,” which would have required companies to disclose all allegations of labor law violations to the Department of Labor, was slated to save $73 million in costs and 930,000 hours of paperwork.
“In addition to those burdens, regulators also estimated $15 million in year-one government costs and $10.1 million in year-two expenditures,” the report added. “A total of $25 million in total savings is hardly earth shattering, but in concert with the regulatory impact, it provides a notable increase in benefits.”
Liberals often try to defend regulations by claiming that they cost little in the grand scheme of things. What they invariably neglect to consider is that these small expenses add up to big quantities over time. It’s like adding a tiny slice of cake to your daily diet. While it might not make an immediate impact, it will ultimately result in unwanted weight gain.
Thankfully, the president has far more sense than a typical liberal, which is why his push to deregulate America is only just beginning.
As reported Friday morning by The Washington Post, for instance, Trump was “slated to sign (an additional) three executive actions meant to spark reviews of tax and financial regulations, the latest in the White House’s effort to rethink and potentially roll back federal oversight.”
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