President Donald Trump has kept one of his most important campaign promises — and Republicans are cheering him on.
According to The Epoch Times, President Trump announced Thursday that his administration has succeeded in cutting back tens of thousands of pages of “job-destroying regulations” on American businesses.
“The previous administration added over 16,000 pages of heavy-handed regulations to the federal register,” Trump said in a speech at the White House, according to the Times. “That’s why nothing got done. Under my administration, we have removed nearly 25,000 pages of job-destroying regulations, more than any other president by far in the history of our country.”
According to Just The News, Trump continued to bash former President Barack Obama’s regulation-happy administration throughout his Thursday speech.
“Before I came into office, American workers were smothered by a merciless avalanche of wasteful and expensive and intrusive federal regulations,” Trump said, as Just The News reported.
“These oppressive, burdensome mandates were a stealth tax on our people — slashing take-home pay, suppressing innovation, surging the cost of goods, and shipping millions of American jobs overseas — millions and millions and millions,” the president added, according to a White House transcript.
The president said on the campaign trail that he hoped to remove two federal regulations for every one his administration enacted, and he put that promise into an executive order in his first days in office, Politico reported. Speaking Thursday, Trump revealed that not only has he succeeded in this goal — he has “vastly exceeded it.”
“For every one new regulation added, nearly eight federal regulations have been terminated,” Trump told those in attendance, according to the transcript. The Epoch Times reported that these moves have saved the country some $50 billion annually in regulatory costs. “Been an incredible achievement,” Trump said.
Breaking down the numbers
A fact sheet from the White House cited by The Epoch Times revealed that Trump’s decision to roll back needless red tape is also projected to benefits Americans on a more individual level. “The President’s deregulatory actions will increase household income annually by at least $3,100 in the coming years,” the fact sheet noted.
It also said Trump “has signed 16 pieces of deregulatory legislation that are expected to result in a $40 billion increase in annual real incomes.”
Other effects include “saving Americans nearly 10[%] on prescription drugs,” reducing the cost of health care, increasing internet access, and lowering “the price of new vehicles by $2,200,” according to the fact sheet. “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.”
If all that doesn’t warrant four more years, what does?