President Trump’s promise to cut Obama-era regulations has gone into overdrive, with the slashing generating $33 billion in savings, far more than expected.
A new report from the White House budget office said that $23 billion in savings has occurred this year alone, with the total at $33 billion since the president took office.
Over his first 21 months in office, former President Obama impose $245 billion in new regulations.
What’s more, Trump’s promise to cut two Obama-era regulations for every new one has been pushed aside for far deeper cuts. The Office of Management and Budget reported that in the last fiscal year the administration cut 12 regulations for every new one it proposed.
Neomi Rao, who oversees regulation as the administrator for OMB, also said in the report that the administration is making moves to block agencies from sneaking in new regulations by requiring a more transparent process.
“The administration aims to restore greater political accountability and ensure that agencies respect the constitutional values of due process and fair notice,” she wrote in the report titled Cutting the Red Tape. “This includes limiting the improper use of guidance documents — ensuring that agencies cannot impose new obligations on the public in a press release, blog post, or speech, but instead must use rulemaking procedures that generally include notice to the public and an opportunity to comment,” she added.
Cutting regulations can take time and, ironically, require regulations to make the cut. So far, she said that the government has killed 176 regulations.
And as important, since January 2017, the administration has delayed or withdrawn 2,253 Obama regulations that were getting ready to take root.
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