- The Second
180 Days « RNC Research
RNC Research
July 28, 2017
Promise Kept: Cutting Red Tape
President Trump Has Successfully Cut Hundreds Of Burdensome And Costly Regulations To Protect Taxpayers And Grow The Economy
TOP
TAKEAWAYS
- President Trump has taken decisive action to deliver on his campaign promise to cut red-tape and roll back hundreds of costly federal regulations.
- President Trump's deregulation agenda saves taxpayers billions of dollars compared to the Obama Administration.
- President Trump has targeted regulations that inhibit economic growth in the energy and agricultural industries, and constrain improvements in infrastructure.
PRESIDENT TRUMP DELIVERED ON A PROMISE TO AGGRESSIVELY ROLL BACK THE REACH OF THE FEDERAL GOVERNMENT
President Trump
Promised To Overhaul The Regulatory System To Bolster Economic Growth
Before He Took Office, Donald Trump Promised To Roll Back The Reach Of The Federal Government. "Before he took office, Donald Trump promised to roll back the reach of the federal government, saying that he would end the 'regulation industry' on the first day of his presidency." (Danny Vinik, "Under Trump, Regulation Slows To A Crawl," Politico , 6/7/17)
Then President-Elect Donald Trump Promised He Would "Formulate A Rule That Says That For Every One New Regulation, Two Old Regulations Must Be Eliminated." "President-elect Donald Trump says he has a simple goal in mind when it comes to federal regulations. In a video he released Monday, Trump said he 'will formulate a rule that says that for every one new regulation, two old regulations must be eliminated. So important.'" (Brian Naylor, "Vowing To Roll Back Regulations, Trump Faces Uphill Task," National Public Radio , 11/25/16)
On The Campaign Trail In 2016, Donald Trump Promised To Scale Back President Obama's Environmental Regulations And Called For Faster Development Of U.S. Energy Resources." "Donald Trump promised Thursday to scale back President Obama's environmental regulations and called for faster development of U.S. energy resources in his most sweeping remarks on energy policy since entering the presidential race." (Justin Worland, "Donald Trump Promises To Cut Regulation On 'Phony' Environmental Issues," Time , 5/26/16)
Eliminating Regulations "Makes Good On A Much-Repeated Trump Campaign Promise To Promote Business-Friendly Policies." "The administration's move to eliminate regulations makes good on a much-repeated Trump campaign promise to promote business-friendly policies." (David Shepardson and Valerie Volcovici, "White House Deregulation Push Clears Out Hundreds Of Proposed Rules," Reuters , 7/20/17)
The Regulatory Overhaul Is Meant "To Bolster Economic Growth." "The Trump administration has withdrawn or delayed 860 proposed regulations in its first five months, the beginnings of a regulatory overhaul meant to bolster economic growth." (Josh Boak, "Trump Is Cutting Regulations," The Associated Press , 7/20/17)
President Trump Has Said That Federal Regulations Make It Harder For Companies To Create More Jobs. "President Trump has promised to eliminate 80 percent of all federal regulations, arguing that the plethora of rules is harming economic growth and making it harder for companies to create more jobs." (Juliet Epiperin and Damiam Paletta, "Trump Administration Cancels Hundreds Of Obama-Era Regulations," The Washington Post , 7/20/17)
President Trump Took
Decisive Actions To Significantly Roll Back Federal Regulations
President Trump Ordered Agencies "To Repeal Two Rules For Every New One Adopted." "Trump has vowed a sweeping cut in U.S. regulations and previously ordered agencies to repeal two rules for every new one adopted." (David Shepardson and Valerie Volcovici, "White House Deregulation Push Clears Out Hundreds Of Proposed Rules," Reuters , 7/20/17)
The Economic Costs Of The Two Rules
That Are Rolled Back Must Equal Or Exceed The Economic Cost Of The New
Regulation. "In addition, under the order, the economic costs of the
two so-called deregulatory actions must equal or exceed the economic
cost of the new regulation." (Danny Vinik, "Under Trump, Regulation
Slows To A Crawl," Politico , 6/7/17)
In January 2017, President Trump "Ordered A Freeze On All New And
Pending Regulations" Until Each New Department Head Could Review
Prospective Regulations. "He also ordered a freeze on all new and
pending regulation at the federal level via a memorandum-save for
emergencies relating to 'health, safety, financial, or national
security matters,'-until a Trump-appointed department head could review
prospective regulations." (Bourree Lam, "Trump's 'Two-For-One'
Regulation Executive Order," The Atlantic , 1/30/17)In February 2017, President Trump Set Up Regulatory Reform Task Forces "In What May Be The Most Far Reaching Effort To Pare Back U.S. Red Tape In Recent Decades." "In February, President Donald Trump signed an executive order to place 'regulatory reform' task forces and officers within federal agencies in what may be the most far reaching effort to pare back U.S. red tape in recent decades." (David Shepardson and Valerie Volcovici, "White House Deregulation Push Clears Out Hundreds Of Proposed Rules," Reuters , 7/20/17)
The Executive Order Directs Each Agency
To Designate An Official As The "Regulatory Reform Officer" To Issue
Reports On Modernizing Regulations. "In a separate executive order,
Trump directed each agency to designate an official as the 'regulatory
reform officer' who would issue reports on modernizing regulations."
(Danny Vinik, "Under Trump, Regulation Slows To A Crawl," Politico ,
6/7/17)
In June 2017, The Department Of Treasury Released A Report On The "Core
Principles Of Financial Regulation Stipulating Economic Growth,
Increasing Access To Capital & Taxpayer Protection." "Treasury
Releases First Report on Core Principles of Financial Regulation
Stimulating Economic Growth, Increasing Access to Capital &
Taxpayer Protection Are Top Priorities." (Press Release, "A Financial
System That Creates Opportunities," U.S. Department Of Treasury ,
6/12/17)The Report Called On Congress To Review
The Role Of Federal Regulators To "Improve Accountability." "Congress
should review the organization and mandates of the independent banking
regulators to improve accountability." (Press Release, "A Financial
System That Creates Opportunities," U.S. Department Of Treasury ,
6/12/17)
The Report Stated That The Treasury And
Trump Administration Will Begin Making Recommendations For Needed
Changes To Statues And Regulations. "Treasury and the Administration
will begin working with Congress, independent regulators, the financial
industry, and trade groups to implement the recommendations advocated
in the report through changes to statutes, regulations and supervisory
guidance." (Press Release, "A Financial System That Creates
Opportunities," U.S. Department Of Treasury , 6/12/17)
President
Trump
Has
Successfully
Rolled
Back
Hundreds Of Regulations
Since Taking Office, Federal Regulation Under President Trump Has "Slowed To An Almost Total Halt." "The effect has been immediate and dramatic: According to data compiled by POLITICO, significant federal regulation since Trump's inauguration has slowed to an almost total halt." (Danny Vinik, "Under Trump, Regulation Slows To A Crawl," Politico , 6/7/17)
President Trump Has Waged "The Most Aggressive Campaign Against Government Regulation In A Generation." "President Trump has embarked on the most aggressive campaign against government regulation in a generation, joining with Republican lawmakers to roll back rules already on the books and limit the ability of federal regulators to impose new ones." (Juliet Eilperin, "Trump Undertakes Most Ambitious Regulatory Rollback Since Reagan," The Washington Post , 2/12/17)
As Of July, 2017, President Trump Has Eliminated 16 Regulations For Every New One Created. "President Trump's administration, on orders to kill two regulations for every new one, ripped up the playbook during its first six months, eliminating 16 old rules for every new one, according to top officials." (Paul Bedard, "Trump Kills 16 Regulations For Every New One, Crushing 2-For-1 Goal," Washington Examiner , 7/20/17)
The Trump Administration Has Rolled Back "More Than 800 Proposed Regulations…As It Works To Shrink The Federal Government's Regulatory Footprint." "The White House said Thursday it had withdrawn or removed from active consideration more than 800 proposed regulations that were never finalized during the Obama administration as it works to shrink the federal government's regulatory footprint." (David Shepardson and Valerie Volcovici, "White House Deregulation Push Clears Out Hundreds Of Proposed Rules," Reuters , 7/20/17)
19 Regulations, Each Of Which Would
Have An Economic Impact Of $100 Million Or More, Have Been Delayed Or
Withdrawn Would Have An Economic Impact Of $100 Million Or More. "This
includes 19 regulations with an economic impact of $100 million or
more." ("Trump Stops Hundreds Of Planned Regulations," CNBC , 7/20/17)
President Trump And Congress Have Eliminated More Of His Predecessor's
Regulations Than The Combined Efforts Of The Previous Three Presidents.
"Deregulation is a major ambition of President Donald Trump's agenda;
as one example, he has signed more laws rolling back his predecessor's
regulations than the combined total of the three previous presidents
since the process was established by the 1999 Congressional Review
Act." (Justin Sink, "Trump Orders Government To Stop Work On Y2K, 17
Years Later," Bloomberg , 6/15/17)PRESIDENT TRUMP'S REGULATORY ACTIONS SAVE TAXPAYER MONEY AND HAS WON PRAISE FROM BUDGET EXPERTS AND BUSINESS GROUPS ALIKE
President Trump's
Deregulation Agenda Has Saved Taxpayers Billions Of Dollars When
Compared To The Obama Administration's Penchant For Regulation
The Trump Administration's New Rules Have Imposed $6.8 Billion Less In Annual Costs To The Economy Compared To President Obama's First Five Months In Office. "The Trump administration said that the Obama administration introduced rules in the last five months of fiscal 2016 that imposed $6.8 billion in annual costs on the economy, while the rules imposed during its first five months have imposed no costs." ("Trump Stops Hundreds Of Planned Regulations," CNBC , 7/20/17)
The Trump Administration Has Already "Achieved An Annualized Cost Savings Of $22 Million From Agencies." "It also notes that the Congressional Review Act allowed Congress to undo a series of Obama-era regulations, and says the administration has achieved an annualized cost savings of $22 million from agencies." (Niv Elis, "Trump Budget Chief Touts Progress In Rolling Back Regulations," The Hill , 7/19/17)
President Trump's Administration Has Proposed Half As Many "Economically Significant" Regulations Compared To Obama's Last Year In Office. "It said Trump's agencies have also proposed just 58 'economically significant' regulations, down about half from Obama's last year in office." (Andrew Restuccia, "White House Trumpets Early Success In Wiping Out Regulations," Politico , 7/19/17)
Budget
Experts,
Manufacturers,
And
Business
Groups
Have All Praised President
Trump's Deregulation Agenda
A Former CBO Director Pointed Out That "There Was A Lot Of Overreach" During Obama's Presidency And "The New Administration Is Taking Corrective Action." "Douglas Holtz-Eakin, a conservative economist and former Congressional Budget Office director, said in an interview that at the end of Obama's second term 'there was a lot of overreach' as it finalized a slew of rules, and the new administration is taking corrective action." (Juliet Epiperin and Damiam Paletta, "Trump Administration Cancels Hundreds Of Obama-Era Regulations," The Washington Post , 7/20/17)
Business Groups "Are Thrilled" Because President Trump Is Responding To The "Profusion Of Federal Regulations" That Unnecessarily Increase Costs And Hamper Job Creation. "Business groups, however, are thrilled, saying Trump is responding to long-standing complaints that a profusion of federal regulations unnecessarily increases costs and hampers their ability to create jobs." (Juliet Eilperin, "Trump Undertakes Most Ambitious Regulatory Rollback Since Reagan," The Washington Post , 2/12/17)
Business Executives Who Meet With The Trump Administration "Often Name Regulatory Reform As Their Top Agenda Item." Executives who meet with the administration often name regulatory reform as their top agenda item, even ahead of tax reform, according to officials have held discussions with hundreds of business leaders." (Andrew Restuccia and Nancy Cook, "Inside Trump's War On Regulations," Politico , 5/28/17)
A Survey Of Manufacturers Found That 80 Percent Say The President's Actions On Regulations Are "Headed In The Right Direction." "In addition, 80 percent of manufacturers say the president's actions on regulations are headed in the right direction, with more than half of respondents saying those actions will allow them to expand operations, increase investment and add more workers." ("2017 Second Quarter Manufacturers' Outlook Survey," National Association Of Manufacturers , 7/20/17)
More Than Half Of Respondents Said The
Actions Will "Allow Them To Expand Operations, Increase Investment, And
Add More Workers." "In addition, 80 percent of manufacturers say the
president's actions on regulations are headed in the right direction,
with more than half of respondents saying those actions will allow them
to expand operations, increase investment and add more workers." ("2017
Second Quarter Manufacturers' Outlook Survey," National Association Of
Manufacturers , 7/20/17)
PRESIDENT TRUMP HAS TARGETED
REGULATIONS THAT HINDER ADVANCEMENT IN THE ENERGY, INFRASTRUCTURE, AND
AGRICULTURAL SECTORSPresident Trump's
Deregulation Agenda Effectively Ended President Obama's War On Coal
President Trump Declared An End To The War On Coal. "Speaking at the Environmental Protection Agency (EPA), Trump declared an end to what he called 'the war on coal' and promised a 'new energy revolution' with a thriving coal and natural gas industry." (Justin Worland, "President Trump Signs Executive Order Rolling Back Obama-Era Environmental Regulations," Time , 3/28/17)
On March 28, 2017, President Trump's Executive Order Rolled Back President Obama's Clean Power Plan. "President Trump is expected to sign an executive order Tuesday [March 28 th] to roll back the Clean Power Plan rule, keeping a campaign vow to undo the Obama administration's aggressive attempts to reduce carbon emissions." (Ledyard King, "President Trump's Executive Order Will Undo Obama's Clean Power Plan Rule," USA Today , 3/27/17)
The Executive Order Promotes Energy
Independence And Creates Jobs. "The executive order, billed as a
measure to promote 'energy independence' and create jobs, will target a
slew of environmental measures aimed at combating climate change
including the Clean Power Plan, the centerpiece of President Obama's
global warming efforts." (Justin Worland, "President Trump Signs
Executive Order Rolling Back Obama-Era Environmental Regulations," Time
, 3/28/17)
Obama's Clean Power Plan Would Have Closed "Hundreds Of Coal-Fired
Power Plants" And "Frozen Construction Of New Plants." "At a ceremony,
Mr. Trump directed [through executive order] the Environmental
Protection Agency [EPA] to start the complex and lengthy legal process
of withdrawing and rewriting the Obama-era Clean Power Plan, which
would have closed hundreds of coal-fired power plants, frozen
construction of new plants and replaced them with vast new wind and
solar farms." (Coral Davenport and Alissa J. Rubin, "Trump Signs
Executive Order Unwinding Obama Climate Policies," The New York Times ,
3/29/17)President Trump Also Blocked The Stream Protection Rule (SPR) Which Was Put In Place In The Waning Hours Of The Obama Administration. "The congressional resolution killing the so-called Stream Protection Rule, which was issued in the waning days of the Obama administration, follows similar action by Trump overturning an anti-corruption rule that would have required oil companies to disclose payments to foreign governments." (Ari Natter, "Trump Signs Measure Blocking Obama-Era Rule to Protect Streams," Bloomberg , 02/16/17)
President Trump Said By Eliminating
This Rule, He Is Continuing To Keep His "Promise To The American People
To Get Rid Of Wasteful Regulations." "'In eliminating this rule I am
continuing to keep my promise to the American people to get rid of
wasteful regulations,' Trump said at a White House signing ceremony."
(Ari Natter, "Trump Signs Measure Blocking Obama-Era Rule to Protect
Streams," Bloomberg , 2/16/17)
The Coal Mining Industry Said The SPR Would Be "Costly To Implement"
And "Lead To Job Losses" In The Coal Industry. "The coal mining
industry said it [the Stream Protection Rule] would be costly to
implement and lead to job losses across the sector, which is already
suffering from a market-driven downturn in demand for its product."
(Devin Henry, "Trump Signs Bill Undoing Obama Coal Mining Rule," The
Hill , 2/16/17)President Trump Signed
An Executive Order To Undo Restrictions On Offshore Drilling And
Unleash America's Energy Resources
President Trump Signed An Executive Order To Undo President Obama's Restriction On Offshore Oil And Natural Gas Drilling. "President Trump signed an order Friday to kick off the process of undoing former President Obama's restrictions on offshore oil and natural gas drilling." (Timothy Cama, "Trump Signs Order To Roll Back Obama's Offshore Drilling Limits," The Hill , 4/28/17)
"It's Part Of Trump's Promise To Unleash The Nation's Energy Reserves In An Effort To Reduce Reliance On Foreign Oil And To Spur Jobs." "It's part of Trump's promise to unleash the nation's energy reserves in an effort to reduce reliance on foreign oil and to spur jobs, regardless of fierce opposition from environmental activists, who say offshore drilling harms whales, walruses and other wildlife and exacerbates global warming." (Matthew Daly and Jill Colvin, "Trump To Sign Order Aimed At Expanding Offshore Drilling," The Associated Press , 4/27/17)
An Energy Research Group Predicted That Drilling In The Gulf Could Create 230,000 Jobs. "An energy research group predicted that an increase in drilling activity in the Gulf of Mexico could create 230,000 jobs and add $44 billion to the economy next year." ("Researchers: Gulf Drilling Could Add 230,000 Jobs," The Associated Press, 7/21/11)
Allowing Offshore Drilling In The Atlantic Could Support 280,000 Jobs And Add $200 Billion To The Economies Of Virginia, The Carolinas, And Georgia. "Supporters had argued that drilling could provide about 280,000 jobs and inject nearly $200 billion into the economies of the four states - and Tuesday's announcement drew a swift and scathing response from the American Petroleum Institute, the leading oil industry trade association." (Matt Smith, "Obama Administration Reverses Course, Will Not Allow Oil & Gas Drilling Off the Atlantic Coast," Vice News , 03/15/16)
One Study Found That Expanding Oil And Gas Development Could Add 1.1 Million Jobs And $36 Billion In Federal Revenues. "A study commissioned by a major oil-industry lobbying group found that federal policies to expand oil-and-gas development could add 1.1 million U.S. jobs over the next decade and bring in $36 billion in federal revenues by 2015." (Ben German, "Oil Industry Study: Wider Drilling Would Add 1 Million Jobs," The Hill's," 9/7/11)
Expanding Oil And Gas Development Would Produce 4.19 Million Barrels Of Oil-Equivalent In 2020. "Taken together, Wood Mackenzie estimates these steps would create roughly 1.1 million jobs by 2020, and produce an additional 1.27 million barrels of oil-equivalent (BOE) per day by 2015 and 4.19 million BOE in 2020." (Ben German, "Oil Industry Study: Wider Drilling Would Add 1 Million Jobs," The Hill's " E2 Wire ," 09/07/11)
President Trump's
Actions To Cut Regulations Promote The Overhaul Of America's Aging
Infrastructure
In January, 2017 President Trump Signed An Executive Order To Expedite Environmental Review And Approval Of High-Priority Infrastructure Projects. "Donald Trump has signed five new executive orders - including one to expedite environmental review and approval of high-priority infrastructure projects. On February 14th 2017, The President Signed Into Law H.J. Resolution 41, Which Eliminated A Costly Regulation That Threatened To Put Domestic Extraction Companies At A Disadvantage." (Andrew Buncombe, "Donald Trump Signs Order To Speed Up Environmental Review Of Infrastructure Projects," Independent , 1/24/17)
President Trump Is Establishing Up A New Council To Help Project Managers "Navigate Bureaucratic Hurdles." "Trump said the White House is moving ahead with 'massive permit reform' and setting up a new council to help project managers navigate bureaucratic hurdles." (David Shepardson, "Trump Announces Push To Speed Up 'Desperately Need Infrastructure,'" Reuters , 6/9/17)
President Trump Is Also Creating An Office To "Root Out Inefficiency" To Our Communities To Modernize Their Aging Infrastructure. "The White House is also creating a new office in the Council of Environmental Quality 'to root out inefficiency, clarify lines of authority, and streamline federal, state and local procedures so that communities can modernize their aging infrastructure without fear of outdated federal rules getting in the way.'" (David Shepardson, "Trump Announces Push To Speed Up 'Desperately Need Infrastructure,'" Reuters , 6/9/17)
The Trump Administration Planned To Overhaul The Federal Permitting Process To Support Its Infrastructure Plan. "The administration also hopes to advance its deregulatory agenda through legislation to promote its infrastructure plan, which White House officials said will include an overhaul of the federal permitting process." (Andrew Restuccia and Nancy Cook, "Inside Trump's War On Regulations," Politico , 5/28/17)
The Plan Is To Shorten The Length Of
Environmental Reviews And Streamline The Project Approval Process For
President Trump's $1 Trillion Infrastructure Package. "The Trump
administration may enforce restrictions on the length of environmental
reviews as part of an effort to streamline the project approval process
in his $1 trillion infrastructure package." (Melanie Zanona, "Trump May
Restrict Length Of Environmental Reviews Under Infrastructure Plan,"
The Hill , 6/7/17)
The Goal Is To Bring The Timeline Down From 10 Years To Two Years For Transportation Project Approval. "The plan is expected to roll back regulations that can slow down transportation projects and streamline the lengthy construction approval and permitting process, with the goal of bringing the timeline from as long as 10 years down to two years." (Melanie Zanona, "Trump May Restrict Length Of Environmental Reviews Under Infrastructure Plan," The Hill , 6/7/17)
The Goal Is To Bring The Timeline Down From 10 Years To Two Years For Transportation Project Approval. "The plan is expected to roll back regulations that can slow down transportation projects and streamline the lengthy construction approval and permitting process, with the goal of bringing the timeline from as long as 10 years down to two years." (Melanie Zanona, "Trump May Restrict Length Of Environmental Reviews Under Infrastructure Plan," The Hill , 6/7/17)
President
Trump
Rolled
Back
Federal
Overreach
On The Agricultural Industry And
Acted To Protect Farmers And Ranchers
President Trump Rolled Back President Obama's "Waters Of The United States" Rule Which Regulates Small Bodies Of Water Which Are Subject To Federal Oversight. "The Trump administration is moving to roll back an environmental rule intended to define which small bodies of water are subject to federal authority under the Clean Water Act. President Trump signed documents Tuesday directing the Environmental Protection Agency and the U.S. Army Corps of Engineers to review the Obama administration's 'Waters of the United States' rule. In doing so, Trump said he is 'paving the way for the elimination' of the rule." (Merrit Kennedy, "Trump Aims To 'Eliminate' Clean Water Rule," National Public Radio , 2/28/17)
The "Controversial" Waters Of The U.S. Rule Was Opposed By Farmer, Rancher, And Homebuilder Groups." "Donald Trump on Tuesday signed an executive order seeking to roll back a controversial water rule opposed by farmer, rancher and homebuilder groups." (Jeff Daniels, "Trump Executive Order Seeks To Roll Back Controversial Obama Water Rules," CNBC , 2/28/17)
Agriculture Groups Said Farmers Could Lose Ranch Or Farmland Because Of The Regulations And Homebuilder Group Said It Was Costly To Their Business. "Agriculture groups have been critical of the rule, claiming farmers could lose ranch or farmland because of the regulations. Homebuilder groups also lashed out at the Obama water rule and said it was costly to their business." (Jeff Daniels, "Trump Executive Order Seeks To Roll Back Controversial Obama Water Rules," CNBC , 2/28/17)