President Donald Trump this week heralded what he portrayed as the widespread success of his administration’s efforts to cut regulation and provide more freedom to American workers.
Speaking to reporters from the South Lawn of the White House on Thursday, he announced that the ongoing mission has been underway since the beginning of his first term.
“Most dramatic regulatory relief campaign”
“Nearly four years ago, we ended this regulatory assault on the American worker, and we launched the most dramatic regulatory relief campaign in American history by far,” he proclaimed, according to a transcript provided by the White House.
Many of the president’s supporters are sure to interpret his latest remarks as evidence of his continued dedication to a prominent campaign promise. Trump came into office promising to cut two federal regulations for each new one put on the books, and his pursuit of that goal appears to have been a resounding success.
“For every one regulation added, nearly eight federal regulations have been terminated,” he said this week.
In addition to representing a win for the president, the White House is also portraying the regulation rollbacks as a tangible benefit for the nation’s workforce.
“Our historic regulatory relief is providing the average American household an extra $3,100 every single year,” Trump said. “And we’re going up from that number.”
“Streamlining an outdated regulatory system”
According to a study by the Competitive Enterprise Institute, the U.S. regulatory system has imposed real costs to the economy, putting the estimated figure at $1.9 trillion.
The president’s ongoing progress in this sector, however, is certainly eating into that massive figure.
He has frequently cited the perceived need to roll back regulations already in effect, including earlier this month when he signed an executive order scaling back the National Environmental Policy Act.
“From the beginning of my Administration, I have focused on reforming and streamlining an outdated regulatory system that has held back our economy with needless paperwork and costly delays,” the order reportedly stated. “The need for continued progress in this streamlining effort is all the more acute now, due to the ongoing economic crisis.”
Despite the efforts of his many critics to paint his first term as a failure, the president can point to deregulation as one of his administration’s successes.