We are now reducing the size, scope, and cost of Federal regulations for the first time in decades, and we are already seeing the incredible results.
HISTORIC DEREGULATION: Since taking office, President Donald J. Trump has led historic deregulation efforts to roll back red tape that burdened Americans and stifled economic growth.
- Under the President’s leadership, the Administration has cut 8 and a half regulations for every new rule, far exceeding his promise to cut two regulations for every new one.
- President Trump’s deregulatory efforts have already slashed regulatory costs by nearly $50 billion, with savings reaching $220 billion once major actions are fully implemented.
- Sixteen pieces of deregulation legislation signed by President Trump are expected to increase annual real incomes by more than $40 billion.
- The Trump Administration’s deregulatory efforts will help save American households an estimated $3,100 each year.
- Today, the Administration announced a Governors’ Initiative on Regulatory Innovation to extend the President’s historic regulatory reform to State and local levels.
- This initiative, led by Vice President Mike Pence, aims to cut regulations and costs, advance occupational licensing reform, and better align State and Federal regulations.
- The initiative will work with State, local, and tribal leaders from across the country who are championing occupational licensing reforms, which is especially important for military spouses, and other deregulatory efforts.
RESTORING FREEDOM AND TRANSPARENCY: The President is working to protect Americans from overregulation and administrative abuse.
- President Trump is increasing accountability and transparency at Federal agencies to stop the costly administrative abuse that hurts American families and small businesses.
- Under the previous administration, agencies too often abused their power by surprising Americans with penalties based on unlawful and secret interpretations of regulations.
- In 2014, the Environmental Protection Agency (EPA) threatened a family with up to $20 million in fines just for building an environmentally-friendly pond for their horses.
- A 77-year-old Navy veteran was imprisoned and ordered to pay $130,000 after the EPA declared several small ponds he created as federally protected navigable waters.
BENEFITTING ALL AMERICANS: President Trump’s deregulation efforts are offering real benefits in Americans’ daily lives.
- American workers are benefitting as the President’s deregulation helps unleash the American economy, leading to more than 6 million new jobs, rising wages, and low unemployment.
- Deregulation is saving small businesses from wasting time and money on compliance costs.
- President Trump has helped lift the burden of overregulation off American farmers by following through on his promise to repeal the Obama-era Waters of the United States rule.
- Americans are gaining access to more affordable healthcare options thanks to the Administration’s regulatory reform.
- The Administration has worked to expand affordable coverage options through association health plans, short-term plans, and health reimbursement arrangements.
- President Trump is working to boost American auto producers and provide savings for consumers by replacing the Obama-era Corporate Average Fuel Economy (CAFE) regulations.