Report: Regulations being cut at record pace, savings double

One of the main reasons for the Obama stagnation of the economy was the imposition of politically motivated regulations on business.  One of the major reasons for the economic explosion under President Trump has been the ending of junk science and politics as the cause of government regulations.

“The Department of Labor (DOL) enjoys the largest total savings of covered agencies with $417.2 million. The Department of Health and Human Services (HHS) comes in second in savings, but has a larger savings surplus (or the amount in excess of its FY 2018 target) than DOL at $285.6 million. The Department of Transportation (DOT) ranks third in annualized savings followed closely by the Department of Justice.”

Interior has dug the biggest hole, but Bosch said that a key deregulation under consideration would help that agency catch up.”

Trump believes in meaningful regulations, not those promoted by special interests and the politically well placed—that is why the economy is going full steam ahead.  Expect more cuts in regulations each day.

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Report: Regulations being cut at record pace, savings double

by Paul Bedard, Washington Examiner,  8/13/18

 

President Donald Trump spoke during an event on federal regulations in the Roosevelt Room of the White House, Thursday, Dec. 14, 2017, in Washington. “Let’s cut the red tape, let’s set free our dreams,” Trump said as he symbolically cut a ribbon on stacks of paper representing the size of the regulatory code.

Federal agencies, led by Labor and Health and Human Services, are cutting Obama-era regulations and saving money faster than demanded by President Trump, according to a new report.

And as a result, the administration is expected to easily meet the president’s order to cut at least two old regulations for every new one issued and cut the costs of regulations.

“With less than two months remaining in FY 2018, the Trump administration is well on its way to surpassing its regulatory budget goals,” said the new report from American Action Forum, which charts federal regulations.

“Collectively, executive agencies subject to a regulatory budget remain on pace to double the administration’s overall savings goal. On an individual basis, 12 of 22 agencies have already met or surpassed their savings target,” added the report written by Dan Bosch, the director of regulatory policy at the American Action Forum.

He highlighted the winners:

“The Department of Labor (DOL) enjoys the largest total savings of covered agencies with $417.2 million. The Department of Health and Human Services (HHS) comes in second in savings, but has a larger savings surplus (or the amount in excess of its FY 2018 target) than DOL at $285.6 million. The Department of Transportation (DOT) ranks third in annualized savings followed closely by the Department of Justice.”

Interior has dug the biggest hole, but Bosch said that a key deregulation under consideration would help that agency catch up.

Read the full report here.

 

About Stephen Frank

Stephen Frank is the publisher and editor of California Political News and Views. He speaks all over California and appears as a guest on several radio shows each week. He has also served as a guest host on radio talk shows. He is a fulltime political consultant.