Study: Trump’s cuts to reg­u­la­tions save busi­nesses $4 bil­lion

The Washington Times Daily - - POLITICS - BY DAVE BOYER

Pres­i­dent Trump’s as­sault on red tape has saved busi­nesses nearly $4 bil­lion per year com­pared with for­mer Pres­i­dent Barack Obama’s pace of im­pos­ing reg­u­la­tions, a new study found Tues­day.

Fi­nal rule costs dur­ing Mr. Trump’s first six months in of­fice will cost U.S. busi­nesses about $378 mil­lion per year, com­pared with $4.2 bil­lion for the same pe­riod of Mr. Obama’s pres­i­dency, ac­cord­ing to the con­ser­va­tive Amer­i­can Ac­tion Fo­rum.

“The re­sults are sub­stan­tial,” said Dan Gold­beck, an an­a­lyst at AAF who pre­pared the re­port. “New reg­u­la­tory bur­dens are a frac­tion of those es­tab­lished un­der Pres­i­dent Obama’s first six months; over­all reg­u­la­tory vol­ume has slowed to his­tor­i­cally low lev­els; and a num­ber of no­table dereg­u­la­tory mea­sures have been ini­ti­ated.”

Com­pared with the Obama ad­min­is­tra­tion, Mr. Trump has im­posed 5 per­cent of the life­time costs on busi­nesses, 9 per­cent of the an­nual costs and 12.5 per­cent of the em­ployee hours re­quired for pa­per­work, the study found.

Mr. Gold­beck said the ad­min­is­tra­tion’s full im­pact on cut­ting reg­u­la­tions is yet to come. He noted that fed­eral agen­cies have pub­lished pro­pos­als to roll back the Obama-era rules on “Wa­ters of the United States” and hy­draulic nat­u­ral-gas drilling known as “frack­ing” that could col­lec­tively save about $350 mil­lion an­nu­ally.

“Both the vol­ume and im­pact of new reg­u­la­tory bur­dens have slowed dra­mat­i­cally,” Mr. Gold­beck said. “Beyond these first six months, the ad­min­is­tra­tion’s am­bi­tion is clearly to go even far­ther and deeper.”

Cor­po­rate lead­ers and econ­o­mists say the reg­u­la­tory roll­back has con­trib­uted to an op­ti­mistic busi­ness cli­mate that has seen em­ploy­ers add more than 1 mil­lion jobs so far this year and con­trib­uted to a 20-per­cent rise in the stock mar­ket.

A mea­sure of U.S. small-busi­ness con­fi­dence rose in July, helped by strong hir­ing and an im­prov­ing eco­nomic out­look, the Na­tional Fed­er­a­tion of In­de­pen­dent Busi­ness said Tues­day.

The group’s In­dex of Small Busi­ness Op­ti­mism rose to 105.2 from 103.6 in June, the first such in­crease since Jan­uary.

“Strong con­sumer de­mand is boost­ing small busi­ness op­ti­mism,” NFIB Pres­i­dent Juanita Dug­gan said in a state­ment. “Small busi­ness own­ers are feel­ing bet­ter about the econ­omy be­cause their cus­tomers are feel­ing bet­ter about the econ­omy.”

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