Donald John Trump, Republican candidate for United States President
(Photo by Michael Vadon) (CC BY-SA) (Resized/Cropped)
There are substantial reasons for President Trump’s move to make significant cuts in federal regulations.The executive order, “Reducing Regulation and Controlling Regulatory Costs,” directs agencies to eliminate two current regulations for every new one initiated. The goal is to set annual limit on the cost of new regulations, according to sources close to the President.
The White House had previously noted that “In 2015 alone, federal regulations cost the American economy more than $2 trillion. That is why the President has proposed a moratorium on new federal regulations and is ordering the heads of federal agencies and departments to identify job-killing regulations that should be repealed.” The move is the second action by the new Administration affecting the over-regulation crisis.
On January 20, the same day as the Mr. Trump was inaugurated, a memorandum entitled “Regulatory Freeze Pending Review” was issued. That measure read,
With respect to regulations that have been published in the [Federal Register] but have not taken effect, as permitted by applicable law, temporarily postpone their effective date for 60 days from the date of this memorandum… for the purpose of reviewing questions …read more
Source:: Affluent Investor.com