Trump Administration Credited With Cutting $378 Million In Regulatory Costs
American Action Forum (AAF) published an analysis of deregulation under President Donald Trump, and found his administration's polices have saved the government $378 million in total costs.
Theanalysisexamines the effects of Trump?s ExecutiveOrder#13771 forcing government agencies to eliminate two existing regulations for each new one. It showed most of the reduced costs came from streamlining paperwork and delaying implementation of pending regulation.AAF is a non-profit entity led by Douglas Holtz-Eakin, former director of the Congressional Budget Office, and frequently comments on national economic and political policy.
AAF found only a fraction of one percent of the savings came from changes in regulation.
The report breaks down the savings into five categories:
Shifting of responsibilities (away from public sector to contractors)
Delays (such as extending compliance deadlines)
Paperwork (including information collection requests, applications, and reporting)
Regulatory changes (modifications in how the regulation functions)
Withdrawal of rules
Paperwork accounted for almost half the savings with $179 million, and another $136 million came from delays. Most of which applied to Obama administration rules. The report found only $1.1 million came from regulatory changes.
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