In an effort to jumpstart the economy after the pandemic, President Trump is signing an order to eliminate unnecessary regulations.
The order will direct government agencies to waive regulations to promote job growth. It will also task agencies with deciding which of 600 previously waived regulations should be permanently eliminated.
Senior Trump administration officials told the Daily Caller that the Regulatory Relief to Support Economic Recovery Executive Order “is the first time in living memory that a president has responded to a national crisis by deregulating instead of grabbing more power.”
Why It’s Important:
Trump’s deregulatory agenda during the crisis breaks from past presidential norms. The trend has been for leaders to expand government benefits during times of turmoil. This order marks a departure, with Trump eliminating government rules or provisions.
Trump had previously suspended regulations in order to improve the healthcare system.
The intended goal is to focus on removing burdens businesses normally shoulder, with the hopes that they will be able to quickly reopen and hire workers. With fewer rules, fees, and fines, businesses will have less government involvement to contend with as they try to earn profits.
This order paves the way for permanent cuts in regulations, which Trump and others have called “stealth taxes.”
- President Trump is signing a new order to slash regulations
- The order will require agencies to make new cuts while making previously temporary cuts permanent
- The goal of the order is to remove government burdens on companies reopening after the pandemic
Source: Daily Wire