The Trump administration has blown out of the water its goal of killing two Obama regulations for every new one created, resulting in an “economic miracle,” according to a senior administration official.
Previewing President Trump’s Thursday announcement on his team’s success, a top official said that the reduction on regulations has topped 10 for every new one imposed.
“An economic miracle is happening,” the official told Secrets. “We are pulling away from the economic headwinds we faced early and the tax cut will sustain our efforts. It’s a two for one punch."
Trump will reveal the exact number of regulations cut and the savings in a Roosevelt Room address.
When he came to office, he signed Executive Order 13771 to cut two regulations for every new one. Part of the goal was to overturn 600 last-minute rules imposed by former President Barack Obama at the end of his term, at more than a $15 billion price tag.
In office, Trump put his team on notice to cut regulations, and one department — Interior — has led the way.
While Congress moved first to cut regulations with the Congressional Review Act, the administration’s cuts are what is fueling the repeal of rules.
Neomi Rao, the head of the Office of Regulatory Affairs, will address the success in a Wall Street Journal column Thursday morning.
In it, she writes that legally required regulations will stay but those imposed by Obama not in law will be cut.
“Some regulations legitimately address important health, safety and welfare priorities identified by Congress. The Trump administration respects the rule of law and will not roll back effective, legally required regulations. But in the previous administration, agencies frequently exceeded their legal authority when imposing costly rules. Some agencies announced important policy changes without following the formal rule-making process,” she wrote.
Rao added, “Regulatory reform not only promotes individual liberty and a flourishing economy, it also supports constitutional democracy. Through OIRA's regulatory review process, we ensure that agencies stay within the legal authority given by Congress. When the law provides discretion, we work with agencies to ensure that regulatory policy reflects presidential priorities. This executive direction makes the rule-making process democratic and accountable.”
Paul Bedard, the Washington Examiner's "Washington Secrets" columnist, can be contacted at pbedard@washingtonexaminer.com
