Trump Signs Executive Order To Cut Regulations PERMANENTLY

From Fox Business:

President Trump said he signed an executive order Tuesday to cut “unnecessary regulations that impede economic recovery.”

The order calls for federal agencies to waive, suspend or eliminate red tape as the nation recovers from the coronavirus pandemic.

"Regulations are going to be cut ... go to town, do it right, do it safe," he said from the White House.

The goal is to boost the economic recovery from the coronavirus pandemic shutdowns, but Trump said he hoped any regulations waived at this time would be gone for good.

“Because with millions of Americans forced out of work by the virus, it’s more important than ever to remove burdens that destroy American jobs,” he said.

As of April 28, the Trump administration had put 277 deregulation orders into place since he took office, according to The Brookings Institution. And the Trump administration has added 3,281 rules to the Federal Register, the fewest since records began in the 1970s, according to the Competitive Enterprise Institute.

“We’ve cut far moreregulations by a factor of a lot than any other administration, any other presidency,” Trump said. “So, it’s really something.”

And from the Daily Caller:

President Donald Trump will sign an executive order Tuesday aimed at fast-tracking economic recovery by rescinding or waving regulations he says are inhibiting rapid job growth.

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.”

The order would mimic action the administration took during the early days of the pandemic to expand health care services, specifically telehealth options, and hopes to provide economic relief to the millions of Americans who lost jobs due to state stay-at-home orders.

The latest unemployment figures from the Department of Labor show that that more than 36 million Americans have filed jobless claims since the coronavirus pandemic began. Predictions from Goldman Sachs suggest that total U.S. unemployment could peak at 25% in 2020 without serious government intervention. Furthermore, the National Bureau of Economic Research recently warned that 42% of all coronavirus-related job loss could be permanent. 

White House officials say this new order will direct government agencies to identify any regulations that can be temporarily waived to “promote job creation and growth.” A secondary action directs agencies to determine which of the 600 regulations currently halted under the national emergency should be permanently rescinded.

“The ability to eliminate these regulations on a temporary basis suggests that many may not have been needed in the first place,” an official explained.

Finally, the order outlines a 10-point “Regulatory Bill of Rights” designed to give small businesses security in expanding their workforce.

Both Acting Office of Management and Budget Director Russ Vought and Office of Information and Regulatory Affairs administrator Paul Ray praised the move in statements to the Daily Caller.

“Typically when our country has faced a crisis, Washington responds by grabbing more power,” Vought explained. “President Trump understands that to get the economy moving, the power needs to be given back to the people and entrepreneurs.”

“If a bureaucratic rule needs to be suspended during a time of crisis to help the American people, we should ask ourselves if it makes sense to keep at all.”