May 19, 2022

Trump orders massive deregulation effort to jumpstart the economy

President Donald Trump just dropped a bombshell order on Tuesday afternoon that strikes a huge blow to the Democrats’ regulation agenda.

As some government leaders use the coronavirus crisis to grab more power, Trump has consistently done the opposite — This time with a historic executive order slashing through hundreds of regulations in an effort to kickstart economic recovery.

Trump said at a cabinet meeting that the order will instruct federal agencies “to use any and all authority to waive, suspend and eliminate unnecessary regulations that impede economic recovery.”

The order will slash red tape across the board and directs regulatory agencies to begin the process of making up to 600 previously temporary deregulations permanent.

Acting Office of Management and Budget (OMB) Director Russ Vought told Fox Business:

Typically when our country has faced a crisis, Washington responds by grabbing more power. President Trump understands that to get the economy moving, the power needs to be given back to the people and entrepreneur.

If a bureaucratic rule needs to be suspended during a time of crisis to help the American people, we should ask ourselves if it makes sense to keep at all.

According to reports, Trump’s order will “relax compliance measures overall” and ask regulatory agencies to not “over-enforce” existing regulations on small businesses and non-profits, continuing a trend of deregulation that Trump has prioritized throughout his presidency.

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