During his campaign, one of Donald Trump’s biggest promises was to end the burdensome regulatory overreach of the past eight years. So far, he has made good on his word.
AFP’s Director of Federal Affairs and Strategic Initiatives Chrissy Harbin wrote in today’s Morning Consult about the negative impacts of the Obama administration’s regulatory onslaught, and what the new administration is doing to overturn it:
This flurry of regulatory activity has had devastating impacts. One study from the Mercatus Center at George Mason University found that between 1980 and 2012, regulations cost the economy $4 trillion. Obama famously bypassed Congress with his “pen and phone” strategy and embarked on an even bigger increase in federal regulations. His agencies promulgated more than 20,000 regulations at costs that exceeded $100 billion each year.
Now, the bevy of regulatory reform activity coming out of Washington — from executive orders and resolutions of disapproval, to standalone bills passed by the House — has breathed new life into hopes for regulatory relief that will ignite freedom and opportunity for all Americans.
Trump signed two executive orders providing structural reforms shortly after taking office. One put a moratorium on issuing new regulations, and another directed federal agencies to implement a one-in, two-out cap on regulations going forward.
To read more about the regulatory reform efforts underway by the Trump administration and Congress, click here.