Wednesday, February 01, 2017
$181 Billion in costly Obama regulations frozen, more coming
$181 billion in Obama regulations frozen, more coming: President Trump, moving fast to freeze and stop last minute regulations jammed through by former President Obama, has already stopped rules that would have cost businesses and taxpayers $181 billion. According to a new analysis, Trump's actions began on Inauguration Day and had the added benefit of saving 5.5 million hours in paperwork. American Action Forum's Sam Batkins said, It is standard operating procedure for a new president to take stock of the existing regulatory landscape. What was extraordinary was that the previous administration had $181 billion in regulatory burdens, 16 billion-dollar rules, and millions of hours of new paperwork pending in the system. It's unlikely the regulatory freeze lasts for longer than a few months, but it's a certainty that the administration will scrutinize all pending major rules and determine those that adequately protect public health and safety and those that could harm economic growth.